Deutsche Bank Downgrades MeadWestvaco (MWV) to Hold

March 25, 2013 7:13 AM EDT Send to a Friend
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Price: $51.87 -2.02%

Rating Summary:
    8 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 1 | New: 11
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Deutsche Bank downgraded MeadWestvaco (NYSE: MWV) from Buy to Hold with a price target of $37.00.

The analyst comments, "After strong performance in recent weeks, we are downgrading MWV from Buy to Hold. The stock is currently trading at 8.9x our 2013 and 8.2x our 2014 est's on an EV/EBITDA basis. Both are at the upper end of peer group multiples. While we continue to believe that a sum-of-the-parts valuation on MWV is comfortably in the upper $40's, we are not convinced that management and the Board will move to unlock all of that value in the near term. Thus, with the shares near our PT, we find it difficult to argue that investors need to buy the stock now."

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 $36.67 yesterday.

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