Goldman Sachs Rates Sealed Air (SEE) a Neutral, Cuts Targets for Packaging Group

Goldman Sachs removed their Not Rating designation on Sealed Air (NYSE: SEE) and now rate the shares Neutral with a $19 price target. The firm sees the Diversey deal as EPS dilutive. They said execution risk and above peer group leverage is offset by strong FCF yield.

Goldman also cut estimates and price targets on a host of other Packaging names:

PRICE TARGET CUTS:
Graphic Packaging Holding Company (NYSE: GPK) (Buy) from $5.75 to $5
Crown Holdings Inc. (NYSE: CCK) (Buy) from $45 to $40
MeadWestvaco Corporation (NYSE: MWV) (CL-Buy) from $36 to $33
Owens-Illinois, Inc. (NYSE: OI) (Neutral) from $22 to $19
Ball Corporation (NYSE: BLL) (Neutral) from $39 to $36
Silgan Holdings Inc. (Nasdaq: SLGN) (Neutral) from $41 to $40
Sonoco Products Co. (NYSE: SON) (Neutral) from $32 to $30
Bemis Company, Inc. (NYSE: BMS) (Sell) from $30 to $28

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