- Amcor PLC (AMCR, Financial) experienced a notable rise in short interest to 11.49%, reflecting heightened investor caution.
- Analysts forecast an average target price of $11.34 for AMCR, presenting a potential upside of over 20%.
- The stock maintains a "Hold" rating amid market volatility with prospects for range-bound performance.
Short interest in Amcor PLC (AMCR), a leading name in the materials sector, surged dramatically to 11.49% by the close of March. This increase positions Amcor as the most shorted stock within its sector. The spike coincided with a downturn in the S&P 500 materials sector, as global economic concerns nudged investors towards more defensive positions. Despite these dynamics, Amcor holds a "Hold" rating, suggesting potential for range-bound performance amidst volatile market conditions.
Wall Street Analysts Forecast
Delving into analyst projections, the consensus among 8 analysts places the one-year price target for Amcor PLC (AMCR, Financial) at an average of $11.34. This reflects a noteworthy 20.22% upside from the current trading price of $9.44, with estimates ranging from a low of $10.00 to a high of $12.30. Interested investors can explore more detailed forecast data on the Amcor PLC (AMCR) Forecast page.
Brokerage firms collectively rate Amcor PLC (AMCR, Financial) at an average recommendation of 2.3, signifying an "Outperform" status. This rating is derived from a scale where 1 depicts a Strong Buy and 5 indicates a Sell.
According to GuruFocus estimates, the projected GF Value for Amcor has been assessed at $11.18 for the upcoming year. This suggests an 18.49% potential upside from the current price point of $9.435. The GF Value represents GuruFocus' fair value estimate, calculated from historical trading multiples, previous business growth, and future performance projections. For a comprehensive analysis, visit the Amcor PLC (AMCR, Financial) Summary page.
