BofA raised the firm’s price target on Ardagh Metal Packaging (AMBP) to $4.20 from $3.90 and keeps a Neutral rating on the shares. The firm cites recent industry catalysts as well as its review of comparable and market multiples in raising its price targets on a quartet of names in the packaging and paper space, noting that both International Paper (IP) and Packaging Corp. (PKG) reported plans for containerboard price increases for early 2024 this week.
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Read More on AMBP:
- Ardagh Metal Packaging management to meet with Truist
- Ardagh Metal Packaging price target raised to $3.90 from $3.40 at BofA
- Ardagh Metal Packaging price target lowered to $4 from $5 at Barclays
- Ardagh Metal Beverage sees 2023 adjusted EBITDA $610M
- Ardagh Metal Beverage reports Q3 adjusted EPS 6c, consensus 5c