Market Overview

UPDATE: Bank of America Raises PT on Sealed Air Corp. Following Investor Sessions

Related SEE
Sealed Air Acquires Virox Technologies' Accel Brand And Healthcare Businesses In The USA And Canada
Secondary Offering by Sealed Air - Analyst Blog

In a report published Thursday, Bank of America analyst George L. Staphos reiterated a Buy rating on Sealed Air Corp. (NYSE: SEE), and raised the price target from $25.00 to $28.00.

In the report, Staphos noted, “We recently had the chance to check in with our sources in and around Sealed Air, and host a number of investor sessions. While there are headwinds, we come away more confident in the multi-year turnaround and rebound occurring at Sealed Air and are raising our PO to $28. ‘Job Number One' for the company right now appears to be stabilization of margins and returns. Management's focus appears centered on cost-reduction in Europe and some contract awards in the US, amongst other points. It won't be easy but some margin recovery in Diversey's Institutional & Laundry (I&L) looks possible. We raise our EBITDA margin forecasts in 2014 from a 60bp increase to a 100bp increase.”

Sealed Air Corp. closed on Wednesday at $24.23.

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (SEE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters