Amcor Stock Rated Overweight by Wells Fargo After Merger With Berry Global

Amcor Plc. (NYSE:AMCR) ranks among the best cyclical stocks to buy now. On June 26, Wells Fargo began coverage of Amcor Plc. (NYSE:AMCR) with a $10 price target and an Overweight rating, stating that the recent merger of Amcor and Berry Global had created “a global packaging powerhouse with unmatched scale and innovation leadership.”

Amcor Stock Rated Overweight by Wells Fargo After Merger With Berry Global

Wells Fargo expects that over the next two years following the merger, Amcor Plc. (NYSE:AMCR)’s earnings growth will be mostly driven by synergies, positioning the company as a leader in the packaging sector.

Additionally, the firm emphasized that higher free cash flow might offer long-term flexibility between possible bolt-on acquisitions for the packaging company and improved shareholder returns.

Amcor plc (NYSE:AMCR) is a holding company that offers consumer packing services. Its operations comprise of the Flexibles and Rigid Packaging segments. Rigid Packaging produces rigid plastic containers and other items for worldwide distribution, whereas Flexibles oversees the creation and distribution of flexible packaging.

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