Ardagh Metal Packaging price target lowered to $3.70 from $4 at BofA

BofA lowered the firm’s price target on Ardagh Metal Packaging (AMBP) to $3.70 from $4 and keeps an Underperform rating on the shares. Packaging underperformed the S&P 500 by about 22% in 2024 while Paper/Forest declined a relative 7% with weakness in volumes an ongoing theme, says the analyst, who adds that “all in, we prefer Packaging to Paper/Forest.”