Amcor price target raised to $10.50 from $9.80 at Wells Fargo

Wells Fargo raised the firm’s price target on Amcor to $10.50 from $9.80 and keeps an Equal Weight rating on the shares. While de-stocking impacts are abating and broader end-markets show modest recovery, the firm remains cautious given uncertainties surrounding consumers’ abilities to withstand an economic slowdown. The firm believes Amcor is seeing some light at the end of the tunnel as Flexible volumes return to positive territory.