Amcor upgraded to Buy from Hold at Truist

Truist upgraded Amcor (AMCR) to Buy from Hold with a price target of $12, up from $10, citing what it views as the “attractive setup following the transformational acquisition” of Berry Global (BERY). For the packaging group, the firm believe that the earlier part of 2025 will begin where 2024 ended, with packaging volumes in aggregate being somewhat challenged due to modest promotional activity, the analyst tells investors. The firm is also introducing initial calendar 2027 estimates and rolling forward its valuation period, which is now based on calendar 2026.