Citi analyst Anthony Pettinari downgrades $Berry Global Group (BERY.US)$ to a hold rating, and adjusts the target price from $83 to $76.
According to TipRanks data, the analyst has a success rate of 71.2% and a total average return of 19.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Berry Global Group (BERY.US)$'s main analysts recently are as follows:
Berry Global has entered into an all-stock acquisition agreement with Amcor, resulting in Amcor holding a 63% share and Berry owning 37% in the newly formed entity. It is anticipated that Berry will distribute at least three dividends, amounting to 93 cents per share, prior to the probable finalization of the transaction by the end of the first half of 2025. This arrangement is expected to yield a total return of approximately 8.5% over seven months, which equates to an annualized return of about 15%.
The acquisition of Berry Global by Amcor is viewed as largely complementary. Berry brings a robust closures business and significant market presence in North America and Europe. In contrast, Amcor enhances the combined entity with its strengths in healthcare and rigid packaging alongside a more extensive footprint in Asian and Latin American markets.
Note:
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