Ardagh Metal Packaging price target raised to $3.60 from $3.50 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Ardagh Metal Packaging (AMBP) to $3.60 from $3.50 and keeps an Underweight rating on the shares. The firm, which notes that Ball Corp. (BALL) remains the firm’s preferred way to invest in the secular beverage can growth theme, believes Ardagh shares will likely underperform peers due to the company’s challenged cash flow profile.