2313 GMT [Dow Jones]--Investors in Amcor appear to be increasingly concerned that a decline in volumes is structural for packaged consumer goods, Jefferies says. It thinks those worries are overdone, despite U.S. fast-moving consumer goods volumes still 5% below 2020 levels. Analyst Ramoun Lazar says Amcor is already trading like a structurally impaired business. "We believe volume weakness is mostly cyclical," Jefferies says. "Weak end markets have been compounded by high rates of inflation weighing on affordability and driving prolonged destocking." This is particularly a headwind in the U.S. Still, Jefferies sees pockets of growth. "Longer term we see low-single-digit percent industry volume growth supported by the role of packaging in food safety/shelf life, health trends leading to new category growth and smaller packs," Jefferies says. (david.winning@wsj.com)

(END) Dow Jones Newswires

October 01, 2025 19:16 ET (23:16 GMT)

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