Downgrade
2026-01-28
Morgan Stanley
RatingEqual-Weight
FromOverweight
Target$46
From—
Morgan Stanley downgraded Amcor to Equal-Weight on Jan 28. Baird upgraded to Outperform ($10) in January and Stifel upgraded to Buy ($10.20) in October. Consensus is Buy at $81 average target — packaging volume recovery and cost discipline supporting the bull case.