Unfortunately its due to the sheep following analysts...

Unfortunately its due to the sheep following analysts recommendations. Personally I take it as anther buying opportunity. I love those divis 4 x a year

Amcor shares extends losses after Macquarie downgrade

10:15am yesterday

The news: Amcor shares extended losses in early trading on the ASX as Macquarie downgraded its rating on the stock following the global packaging group's first-quarter result on Friday.
The numbers: Amcor shares were down 2.5% to $15.61 by 11:10am AEDT, having closed 4.3% lower on Friday after the release of its Q1 result.
Macquarie downgraded its recommendation on Amcor from 'outperform' to 'neutral' and cut its target price from $16.50 to $16.30. Macquarie also reduced its earnings-per-share forecasts by 3% in each of FY25, FY26 and FY27 due to lower anticipated sales.
Elsewhere, Morningstar maintained its $17.80 fair value estimate, while Morgan Stanley kept its 'equal-weight' rating and $15 price target.
The context: Macquarie analysts said that Amcor is continuing to provide "solid and defensive" earnings growth amid a tough global backdrop.
However, they noted that further improvements in Amcor's rate of volume growth "may get tougher from here", with some signs of destocking into the December quarter, flatter growth from fast-moving consumer goods, and tougher second-half volume and cost-out comparables into the second half.
Morningstar and Morgan Stanley analysts both saw Amcor's result as in line with expectations.
Morningstar noted that Amcor shares are currently trading at about a 10% discount to fair value. Morgan Stanley said that while an improvement in volume trends is a positive, growth is likely to remain modest in the near term.