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  "documentTitle": "Amcor plc (pro forma Amcor-Berry Global combination) (AMCR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2020-03-10 00:00:00",
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      "text": "We believe Amcor is obscuring significant financial strain (organic revenue decline 3.0% - 4.0%, cash overdrafts and cash flow contraction) that will place its dividend and BBB investment grade credit rating at risk.",
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      "text": "Signs of a Cash Crunch Calling Into Question Management’s “Enhanced Financial Profile” Claim...",
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      "text": "An “Organic” EPS Growth Story Through Suspect Cost Synergies And Obscured Tobacco Dependence...",
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      "text": "downside: 40% - 60%",
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      "text": "Amcor plc (“AMCR” or “the Company”) is a roll-up, and newly created S&P 500 company... We see 40% – 60% downside risk as investors recalibrate the long thesis.",
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      "text": "Amcor: Spruce Point Sees Approximately 40% - 60% Downside To US$ 3.60 - US$ 5.40 / Share",
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