Bank of America has released a list of 16 buy-rated stocks, excluding those directly benefiting from the artificial intelligence boom. According to Thomas Thornton, head of research marketing at the bank, the market’s intense focus on AI-related investments may be overshadowing other worthwhile opportunities. The list includes companies like Amcor, AT&T, Dollar General, Freeport-McMoRan, KeyCorp, Viking Holdings, and Walt Disney.
Thornton’s team screened US stocks with buy ratings, excluding those in AI, power, and infrastructure ETFs. The criteria included positive three-month earnings per share revisions and trading below the market multiple of 26 times, as well as being at least 10 per cent below their 52-week highs. An initial pool of 82 stocks was refined to the final 16 based on conviction and analyst input.
Amcor, a global packaging company that develops and manufactures responsible packaging for food, beverage, pharmaceutical, medical, home- and personal-care, and other products, stands out on the list. BofA analyst George Staphos sees “undervalued upside potential” in Amcor, particularly with its recent acquisition of Berry Global. Staphos raised his fiscal year 2026 forecasts by 3 per cent and fiscal year 2027 by 7 per cent, anticipating earnings before interest, tax and depreciation to reach nearly $US3.8 billion in fiscal 2026.
Staphos noted that the integration of Berry is progressing faster than expected. He also highlighted the appointment of Steve Scherger as Amcor’s chief financial officer, expecting that he will help navigate future operational and portfolio catalysts, including the ongoing review of strategic options for the North American beverage container business. Amcor’s fiscal 2026 price-to-earnings ratio is below 10 times, which is lower than the group average, suggesting potential for multiple expansion as fundamentals improve.
