AMC – UBS rates the stock as Buy

By Broker News | More Articles by Broker News

First quarter EPS was a 3% beat versus the UBS estimate and consensus forecasts. Significant challenges posed by a shortage of raw materials were overcome by strong cost control/Bemis synergies and a favourable product mix, explains the analyst.

The broker points to a strong Flexibles performance (the earnings margin was in-line with the previous corresponding period), despite around -US$210m of extra raw material costs. EPS guidance was maintained. UBS lowers its target to $18.83 from $18.93. Buy-rated.

Sector: Materials.

 

Target price is $18.83.Current Price is $16.11. Difference: $2.72 – (brackets indicate current price is over target). If AMC meets the UBS target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

RELATED COMPANIESTagged

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →