UPDATE: UBS Downgrades MeadWestvaco (MWV) to Sell
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Rating Summary:
7 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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UBS downgraded MeadWestvaco (NYSE: MWV) from Neutral to Sell with a price target of $37. Analyst Gail S. Glazerman thinks expectations are too high,
"We are downgrading MWV shares to Sell strictly on valuation. We are encouraged that the company continues to show progress towards improving the business but we believe market expectations are a bit too high and valuations are getting stretched given current visibility/pace of improvement. The shares are trading at 8.6x the high end of MWV’s 2014 EBITDA guidance range -- and this includes $120 million of non-cash pension income," said the analyst.
For an analyst ratings summary and ratings history on MeadWestvaco click here. For more ratings news on MeadWestvaco click here.
Shares of MeadWestvaco closed at $43.15 yesterday.
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