Amcor (AMCR) Delivers Strong EPS and Synergy Gains After Berry Merger, Truist Reiterates Buy

Core Viewpoint - Amcor plc (NYSE:AMCR) is identified as one of the best undervalued European stocks, with a Buy rating and a price target of $60 following its quarterly earnings report [1]. Financial Performance - Amcor reported adjusted earnings per share of $0.86, exceeding Truist's forecast of $0.79 and the Street average of $0.84 [1]. - The company generated $55 million in synergies, surpassing its target range of $50-55 million, primarily through G&A headcount reductions and procurement efficiencies [2]. Revenue Synergies - Following the merger with Berry, Amcor achieved over $100 million in annualized revenue synergies, an increase of over $30 million from the previous quarter [3]. Business Operations - Amcor operates in the packaging solutions sector for consumer and healthcare products, focusing on sustainable packaging in both flexible and rigid formats using various materials [3].