Amcor upgraded to Buy from Neutral at UBS

UBS upgraded Amcor (AMCR) to Buy from Neutral with a price target of A$18.25, up from A$16.90. The firm noted this is the first upgrade to Buy for the stock in roughly three years, with Amcor offering double-digit EPS growth post the Berry merger. Amcor has delivered “benign” EPS growth over the past three years, though a a revised strategic focus on EPS growth, underpinned by investment tin high growth consumer packaging categories, Berry merger synergies, and a more growth-supportive capital framework results in a FY25-FY28 EPS compound annual growth rate of 12%, the analyst tells investors in a research note.