Zacks Investment Research downgraded shares of Sealed Air Corporation (SEE) from OUTPERFORM to NEUTRAL on November 22, 2013, with a target price of $34.00.
Sealed Air's third-quarter adjusted net earnings improved 39% year over year to $0.39 a share, helped by higher volumes and a positive price/mix. Sealed Air will benefit from cost savings from its ongoing Integration & Optimization Program as well as its recent additional restructuring plan. Sealed Air is doing a commendable job of generating volume growth, realizing significant cost savings. It is also expected to benefit from the recent price increases. However, weak economic scenario in Europe, high debt capitalization ratio and integration risks regarding Diversey remain the concerns. Thus, we have downgraded our recommendation from Outperform to Neutral with a target price of $34.00.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Sealed Air Corporation (SEE),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment