AMC - Macquarie rates as Outperform
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The company has noted press speculation regarding the potential acquisition of Bemis, stating it regularly reviews opportunities.
An acquisition makes sense to Macquarie as Bemis is the biggest player in US flexibles and the company intends to increase its market share is this segment.
This is a large acquisition and if a deal eventuated it would require a large equity raising, the broker notes.
Target is $17.49. Outperform.
Target price is $17.49.Current Price is $15.40. Difference: $2.09 - (brackets indicate current price is over target). If AMC meets the Macquarie target it will return approximately 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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