Amcor will begin the integration process of the Bemis acquisition and work through the synergy cost savings, which are targeted to deliver US$180mn in savings.
The euphoria of the “search for yield” in the market, (especially in the last few months following US yields trading lower), has seen Amcor’s share price trade at a premium to global peers. We like the long-term prospects of the company and feel AMC’s relatively defensive earnings profile will remain attractive in uncertain markets.
We suggest adding this one to your watch list and we’ll highlight on the blog when the stock switches from sell to buy conditions.
Our target is to buy AMC closer to $15.00