Market Overview

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

Share:
Related SEE
Benzinga's Top Upgrades, Downgrades For September 21, 2017
15 Biggest Mid-Day Losers For Tuesday

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
Oct 2017Bank of AmericaMaintainsBuy
Sep 2017Bank of AmericaUpgradesNeutralBuy
Sep 2017BarclaysDowngradesOverweightEqual-Weight

View More Analyst Ratings for SEE
View the Latest Analyst Ratings

Posted-In: Jefferies Philip NgAnalyst Color Downgrades Analyst Ratings

 

Related Articles (SEE)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...