Goldman Considers Pushback To May 12 Comments On Packaging Sector

A Goldman Sachs analyst considered his May 12 resumption of coverage on a number of Packaging companies after hours on Wednesday.

The firm's Brian Maguire holds an Attractive rating on overall sector.

The analyst saw investor pushback on the Attractive sector rating, which was highlighted by three main catalysts:

1. "historical late-cycle outperformance;
2. underappreciated coming resin benefits; and
3. attractive valuation supported by strong cash flows."The sector ratings were as follows:
   • Graphic Packaging Holding GPK - Buy rating, $16.50 price target
   • Sealed Air Corp SEE - Buy, $59
   • Berry Plastics Group Inc BERY - Buy, $50
   • Sonoco Products Co SON - Neutral, $50
   • Silgan Holdings Inc. SLGN - Neutral, $53
   • Bemis Company, Inc. BMS - Neutral, $53
   • Crown Holdings, Inc. CCK - Neutral, $60