Amcor price target lowered to $9.70 from $10.30 at BofA

BofA analyst George Staphos lowered the firm’s price target on Amcor (AMCR) to $9.70 from $10.30 and keeps a Buy rating on the shares. The firm sees the Berry acquisition as value-creating, noting that Amcor’s synergy guidance could be conservative. While skeptical of some portions of the company’s long-term growth outlook, easy comparisons and other factors should allow the market to underwrite a more positive view here, the analyst tells investors in a research note.