Amcor was added to the ASX 20 index this week, replacing AMP.
As an analysis of AMC, we feel the current share price is trading in line with fair value, based upon FY19 EPS. Assuming growth of around 6%, places the stock on a forward yield of 4.6%
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With Amcor being a beneficiary of a weaker AUD, (95% of sales outside Australia), we see limited downside risks and recommend accumulating the stock.
Amcor goes ex-div $0.30 on the 4th of September.
