Amcor upgraded to Buy from Neutral at Citi

Citi upgraded Amcor (AMCR) to Buy from Neutral with a price target of $12, up from $11. The shares are oversold following the December selloff, the analyst tells investors in a research note. The firm sees a sustained flexibles volume recovery for Amcor along with rigid volume stability. It also views cost synergies from the Berry deal “as relatively easy to achieve.”