Wells Fargo downgraded Ardagh Metal Packaging (AMBP) to Equal Weight from Overweight with a price target of $3.35, down from $3.60. The firm believes beverage can manufacturers face the most significant headwinds within its coverage to start 2025, driven by an “already challenging” macro backdrop, trade policy risks, the “Make America Healthy Again” agenda, and the Surgeon General’s warning on alcohol. For Ardagh, Wells’ concerns are excess capacity, high leverage, and a “punitive” dividend paid to its largest shareholder that limits free cash flow.
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Read More on AMBP:
- Ardagh Metal upgraded to Equal Weight from Underweight at Morgan Stanley
- Ardagh Metal Packaging price target lowered to $2.75 from $4.25 at UBS
- Ardagh Metal Packaging price target lowered to $3.70 from $4 at BofA
- Ardagh Metal Packaging price target lowered to $4 from $4.50 at Citi
- Ardagh Metal Packaging downgraded to Underperform from Buy at BofA