Amcor downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Joseph Michael downgraded Amcor (AMCR) to Equal Weight from Overweight with a price target of $46, down from $57.50, citing negative organic volume momentum despite Berry acquisition integration synergies being on track and an “attractive valuation.” The firm made the change as it revisits ratings and order of preference within its Australian Industrials coverage.