UPDATE: Jefferies Raises PT on Sealed Air Following 2Q13 Earnings Preview

In a report published Wednesday, Jefferies analyst Philip Ng reiterated a Buy rating on Sealed Air SEE, and raised the price target from $28.00 to $30.00.

In the report, Jefferies noted, “We expect 2Q results to be soft, driven by bad weather and FX, but we believe the news is baked into the stocks already. With weather normalizing, pricing flowing through more fully, and the group generating record FCF, we remain constructive on the sector.”

Sealed Air closed on Tuesday at $26.09.