Amcor PLC Shs Chess Depository Interests, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Niraj Shah from Goldman Sachs maintained a Buy rating on the stock and has a A$16.50 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Niraj Shah has given his Buy rating due to a combination of factors that highlight Amcor PLC’s potential for growth and value creation. Despite facing challenges in the demand for rigid plastics, Amcor’s recent acquisition of Berry Global is expected to drive significant synergy benefits. The company aims to achieve substantial cost synergies over the next three years, which are projected to contribute to earnings growth and enhance cash generation.
Amcor’s strong track record in achieving synergies supports this optimistic outlook. The forecasted earnings per share growth and expected improvements in cash flow further bolster the Buy recommendation. Additionally, the valuation metrics suggest a considerable upside potential, reinforcing the positive sentiment towards Amcor’s stock. This strategic positioning and financial outlook underpin the decision to initiate coverage with a Buy rating.
In another report released on September 1, J.P. Morgan also maintained a Buy rating on the stock with a A$17.00 price target.