Amcor named short-term sell idea at Deutsche Bank

Deutsche Bank analyst Kyle White imitated a “Catalyst Call: Sell” on shares of Amcor as a short-term investment idea. The analyst expects the company’s fiscal 2024 outlook to be below expectations. Consensus estimates imply growth next fiscal year whereas Deutsche expects continued volume challenges and the divestiture of its Russia business to drive earnings lower, which could be a negative surprise to shareholders, the analyst tells investors in a research note.