Berry Global resumed with a Neutral at Citi

Citi resumed coverage of Berry Global (BERY) with a Neutral rating and $76 price target after the company entered into an agreement to combine with Amcor (AMCR). Based on Amcor’s intra-day trading price as of Friday, the deal implies a $76 value for Berry shares, the analyst tells investors in a research note. The firm says Berry is currently trading at a 7% discount to its price target, implying a “roughly fair valuation.”