Baird Upgrades Amcor Plc. (AMCR) to Outperform

Baird analyst Ghansham Panjabi upgraded Amcor Plc. (NYSE: AMCR) from Neutral to Outperform with a price target of $10.00.

The analyst comments: "While a combination of: 1) sluggish core volumes over the past three years, and 2) higher balance sheet leverage following the acquisition of Berry Global has weighed on the valuation multiple of Amcor, we believe that self- improvement dynamics nonetheless are supportive of earnings growth and cash flow led balance sheet deleveraging, summing to our investment rating upgrade to Outperform (from Neutral)."

For an analyst ratings summary and ratings history on Amcor Plc. click here. For more ratings news on Amcor Plc. click here.

Shares of Amcor Plc. closed at $8.57 yesterday.

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