Ardagh Metal initiated with an Outperform at RBC Capital » 06:1511/2311/23/21
RBC Capital analyst Arun…
RBC Capital analyst Arun Viswanathan initiated coverage of Ardagh Metal with an Outperform rating and $13 price target. Viswanathan believes Ardagh Metal will benefit from mid-single digit percentage global beverage can volume growth, due to continued robust demand for beverage cans and thinks the company is well-positioned for significant top and bottom line growth given its growth investment plan through 2024, the analyst tells investors in a research note.
|Over a week ago|
Ardagh Metal plants to build $200M beverage can plant in Northern Ireland » 08:1711/1911/19/21
Ardagh Metal Packaging,…
Ardagh Metal Packaging, AMP, announced that it plans to build a new $200M beverage can plant in Northern Ireland. The plant will be located near Belfast and will service the growing needs of AMP's beverage customers in Ireland, the UK and Europe. This initiative is part of a multi-billion dollar investment program by AMP involving the construction of new, infinitely recyclable, metal packaging capacity in Europe, North America and Brazil. AMP plans to build the new plant at Global Point near Belfast. AMP is currently at the pre-planning application stage and is actively engaged with local stakeholders on the project. Further details of the plant will be announced over the coming months. Commenting, Oliver Graham, CEO of AMP, said: "This exciting project is an important part of AMP's global investment programme. We are delighted to be investing in Northern Ireland supporting our clients' sustainability needs and further reducing our carbon footprint by locating capacity closer to our end customers."
Ardagh Metal Beverage initiated with a Buy at Citi » 06:3511/1111/11/21
Citi analyst Anthony…
Citi analyst Anthony Pettinari initiated coverage of Ardagh Metal Beverage with a Buy rating and $13 price target. Ardagh is the third largest global manufacturer of beverage cans with production in North America, Brazil and Europe, Pettinari tells investors in a research note. The analyst views the company's "ambitious" growth plan as achievable.
|Over a month ago|
Ardagh Metal Beverage reports Q3 adjusted EPS 14c, consensus 9c » 07:2010/2810/28/21
Reports Q3 revenue…
Reports Q3 revenue $1.04B, consensus $1.02B.
Ardagh Metal Beverage initiated with a Market Perform at BMO Capital » 04:4710/2510/25/21
BMO Capital analyst Mark…
BMO Capital analyst Mark Wilde initiated coverage of Ardagh Metal Beverage with a Market Perform rating and $11 price target. Ardagh is not the biggest global beverage can manufacturer, but it is the "most squarely leveraged" to beverage cans, Wilde tells investors in a research note. The analyst rates all the beverage can manufacturers Market Perform, saying the surge in demand and improved margins "are attracting new capital and new competitors."
Ardagh Metal Beverage initiated with a Neutral at BofA » 06:2310/0710/07/21
BofA analyst George…
BofA analyst George Staphos initiated coverage of Ardagh Metal Beverage (AMBP) with a Neutral rating and $11 price target. Ardagh is a "solid" can company and represents a faster-growing pure-play cheaper beverage option compared to Ball (BLL), but it also generates less free cash flow given its capex plans, with lower returns on capital because of its balance sheet, the analyst tells investors in a research note. Staphos further cites Ardagh's higher leverage and the risks of future equity dilution.
Ardagh Group announces intention to delist shares from NYSE » 16:1909/2409/24/21
Ardagh Group (ARD)…
Ardagh Group (ARD) announced that it has submitted written notice to the New York Stock Exchange of its intention to voluntarily delist its Class A common shares from the NYSE following the completion of the previously announced exchange offer under which AGSA is offering to exchange each outstanding AGSA Shares for 2.5 shares of Ardagh Metal (AMBP).
Ardagh Metal initiated with an Overweight at Wells Fargo » 06:1709/2409/24/21
Wells Fargo analyst Gabe…
Wells Fargo analyst Gabe Hajde initiated coverage of Ardagh Metal with an Overweight rating and $13.60 price target. Hajde believes Ardagh Metal is a fundamentally solid company, with leading market positions in the rapidly growing beverage can market, the analyst tells investors in a research note. He says Ardagh is on the path to expand total capacity by 21 billion cans by the end of 2024 and that upon completion, it is is anticipating adjusted EBITDA to more than double by 2024.
Ardagh Group declares special cash dividend of $1.25 per share » 16:5009/2209/22/21
Ardagh Group (ARD) has…
Ardagh Group (ARD) has declared a special cash dividend of $1.25 per common share, payable on October 12 to shareholders of record on October 4. Under the terms of the exchange offer, Ardagh Group is offering to exchange 2.5 shares of Ardagh Metal Packaging (AMBP) for each Class A common share of Ardagh Group validly tendered and not withdrawn at the closing of the exchange offer. The special cash dividend is separate from, and in addition to, the regular quarterly cash dividend of 15c per share of Ardagh Group payable on October 1 to shareholders of record on September 17.
Ardagh Metal Beverage initiated with an Equal Weight at Barclays » 05:2209/2009/20/21
Barclays analyst Michael…
Barclays analyst Michael Leithead initiated coverage of Ardagh Metal Beverage with an Equal Weight rating and $12 price target. The analyst thinks the stock has the highest potential return in the beverage can space but says it also carries the highest risk with its free cash flow negative thru 2022 and a majority owner overhang. The current valuation already embeds Ardagh's growth, Leithead tells investors in a research note.