Ardagh Metal Beverage price target lowered to $5 from $6 at Barclays

Barclays analyst Michael Leithead lowered the firm’s price target on Ardagh Metal Beverage to $5 from $6 and keeps an Overweight rating on the shares post the Q2 results. Earnings were revised lower but there’s a case to claim they have bottomed, “but frankly conviction is low, given recurring revisions,” the analyst tells investors in a research note. The firm continues to see AArdagh carrying above-average risk, but also “compelling upside potential.”