Amcor price target raised to $11 from $10 at Wells Fargo

Wells Fargo analyst Gabe Hajde raised the firm’s price target on Amcor (AMCR) to $11 from $10 and keeps an Overweight rating on the shares. The firm notes that while calendar Q2 started with high uncertainty for the Packaging & Containers industry, results tracked largely in line with expectations, with FX a boost to those exposed. Beverage cans are likely strongest performers, while “value seeking behavior” a key headwind, Wells adds.