Wells Fargo analyst Gabe Hajde raised the firm’s price target on Ardagh Metal Packaging (AMBP) to $5 from $3.45 and keeps an Equal Weight rating on the shares. The firm notes that while calendar Q2 started with high uncertainty for the Packaging & Containers industry, results tracked largely in line with expectations, with FX a boost to those exposed. Beverage cans are likely strongest performers, while “value seeking behavior” a key headwind, Wells adds.
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