UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Sealed Air on 4Q12 Recap
In a report published Wednesday, Jefferies reiterated its Buy rating on Sealed Air Corp. (NYSE: SEE), and raised its price target from $22.00 to $25.00.
Jefferies noted, “While the 9% move in the stock (S&P 500: +0.7%) yesterday likely benefited from some short covering, we were encouraged by the quarter and guidance looks conservative. With SEE taking a hard stance on price and its restructuring underway, we have increased confidence margins should start trending higher.”
Sealed Air Corp. closed on Tuesday at $21.15.
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