Amcor downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded Amcor (AMCR) to Equal Weight from Overweight with a price target of $43, down from $48. The firm says the share price reaction relating to the Iran conflict has been “disproportionate” across the packaging sector. Wells prefers companies with low leverage, high U.S concentration, and “defensive” production exposures, the analyst tells investors in a research note. The analyst adjusted ratings in the group.