UBS analyst Curt Woodworth initiated coverage of Ardagh Metal Packaging with a Buy rating and $5 price target. Ardagh has among the best volume growth stories in the packaging space and market share wins and accretive channel exposure should drive best in class unit growth in the Americas relative to peers, the analyst tells investors in a research note. The firm expects free cash flow to materially inflect higher into 2024 and 2025.
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