Amcor initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Amcor (AMCR) with a Buy rating and A$16.50 price target which offers 31% upside. While the company’s demand backdrop remains challenging, Amcor’s valuation at current levels provides support, the analyst tells investors in a research note. The firm believes the company’s growth in the medium term will be underpinned by Berry Global acquisition synergies.