Zacks Investment Research upgraded shares of Sealed Air Corporation (SEE) from NEUTRAL to OUTPERFORM on September 19, 2013, with a target price of $36.00.
Sealed Air's second-quarter adjusted net earnings more than doubled to $0.35 a share from prior-year quarter, helped by strong growth in Asia, Middle East, Africa and Turkey (AMAT) and Latin America, and modest growth in North America, margin expansion in the Food & Beverage and Institutional & Laundry divisions, benefits from pricing initiatives, and focus on manufacturing and operational improvements. Sealed Air will benefit from cost savings from its ongoing Integration & Optimization Program as well as its recent additional restructuring plan. The Diversey acquisition in 2011 has enhanced the company's growth profile. Price increases in the second half will help offset raw material inflation. We have upgraded or recommendation from Neutral to Outperform with a target price of $36.00.
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