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UPDATE: Jefferies Downgrades Sealed Air Corp. as Turnaround Baked into Stock

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In a report published Thursday, Jefferies analyst Philip Ng downgraded the rating on Sealed Air Corp. (NYSE: SEE) from Buy to Hold, but reiterated the $33.00 price target.

In the report, Jefferies noted, “We are encouraged by the initiatives SEE is implementing and believe the turnaround is underway, but with the stock doubling this past year and trading at a full valuation (9.2x 2014E EV/EBITDA), we are downgrading the stock to a Hold and believe the market is already giving the company credit for the initiatives.”

Sealed Air Corp. closed on Wednesday at $30.35.

Latest Ratings for SEE

DateFirmActionFromTo
May 2016Goldman SachsInitiates Coverage onBuy
Apr 2016Credit SuisseAssumesOutperform
Feb 2016RBC CapitalInitiates Coverage onOutperform

View More Analyst Ratings for SEE
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Posted-In: Jefferies Philip NgAnalyst Color Downgrades Analyst Ratings

 

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