Ardagh Metal Packaging downgraded to Underperform from Neutral at BofA

BofA downgraded Ardagh Metal Packaging to Underperform from Neutral with a price target of $3.50, down from $4.10. The analyst cites the potential restructuring at Ardagh Group and Ardagh Metal’s “modest” cash flow generation for the downgrade. Ardagh Metal Packaging will run at a cash deficit in the next two years, the analyst tells investors in a research note.