Amcor upgraded to Buy from Hold at Jefferies

Jefferies upgraded Amcor (AMCR) to Buy from Hold with a price target of A$20.50, up from A$15.70, as the firm transferred coverage of the stock to a new analyst. The Berry Global (BERY) transaction “makes a lot of sense” with the timing of the deal, quantum of synergies, and price paid “supportive of a re-rating of the shares,” the analyst tells investors. Berry could provide Amcor with new tools to accelerate volume growth, the analyst argues.