Raymond James has initiated coverage of Amcor (AMCR, Financial) with a Market Perform rating. This decision comes as the company prepares for its impending merger with Berry Global (BERY), which is projected to finalize by mid-2025.
Despite ongoing regulatory processes, the firm conveys a cautious outlook, advocating for a wait-and-see approach as they anticipate further developments. While Raymond James views the merger positively, it expresses a preference for seeing conclusive evidence of growth before revising its outlook, especially given that current stock valuations already seem fair.
