KeyBanc Starts Sealed Air (SEE) at Hold; Limits in Legacy Business

KeyBanc initiates coverage on Sealed Air (NYSE: SEE) with a Hold.

Analyst, Adam J. Josephson, said, "We are initiating coverage of Sealed Air with a HOLD rating as we believe the high projected free cash flow yield at which the stock trades is offset by the numerous risks involved (including integration risks, a potential inability to achieve the guided-to cost and revenue synergies arising from the Diversey acquisition, high debt, and the recent departure of Diversey’s CEO). Sealed Air has no previous experience in Diversey’s industry (supplying chemicals, utensils, and cleaning machines to a wide variety of markets), which we believe makes the task of extracting significant synergies from this deal more difficult."

For an analyst ratings summary and ratings history on Sealed Air click here. For more ratings news on Sealed Air click here.

Shares of Sealed Air closed at $18.23 yesterday.

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