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Is the Amcor Limited (ASX:AMC) share price headed towards recovery?

The Amcor Limited (ASX: AMC) share price is up 1.6% to $13.13 at the time of writing on its third consecutive day of rises following a downturn that has been in play since August.

Amcor is a global packaging company with operations across Australia, North America, Europe, and Asia, but its share price has been on the decline in the last 12 months, leaving investors wary.

Amcor was recently named by Credit Suisse as an “all-weather” defensive pick, alongside other perceived “safe haven” stocks like CSL Limited (ASX: CSL) and Carsales.Com Ltd (ASX: CAR).

Amcor recently held its AGM, reporting solid cash flow and a strong balance sheet with consistent margin improvement and a dividend increase of 5%.

Amcor has a pledge to develop recyclable or reusable packaging only by 2025 – no doubt a pretty topical market to be working within at this juncture.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended carsales.com Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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