I reckon so.. $17 is still the high end of 'fair' but if they continue to deliver with a long runway it won't matter in the end. My thinking is that Amcor have proven over and over to be very good at M&A; the industry is still very fragmented (even if you define flexibles/rigids packaging quite narrowly); and their ability to increase prices/margins in the face of inflation makes them a pretty safe set of hands.
Meanwhile, Goldman Sachs came out overnight and said "AMCR : Amcor slashed to Sell at Goldman as Bemis synergies 'difficult to replicate'". Bare in mind that Goldman Sachs advised Bemis during that merger, and perhaps they have sore grapes for the fact that Amcor got the better end of the deal? Anyway, brokers just advise buy/sell to get people to trade .. seems a very myopic reason to sell when the shareprice hasn't really moved since the merger despite earnings increasing substantially. Thoughts?
AMC Price at posting:
$17.00 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)