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Ardagh Metal Packaging price target lowered to $4.50 from $5 at Wells Fargo

Wells Fargo analyst Gabe Hajde lowered the firm’s price target on Ardagh Metal Packaging (AMBP) to $4.50 from $5 and keeps an Equal Weight rating on the shares. The firm notes the company delivered the Q2 beat and raise the Street was anticipating, but the revised guide also implies a soft Q4, leaving Wells asking is this conservatism, or a warning of cracks to fundamentals.

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