Baird Downgrades Sealed Air (SEE) to Neutral

Baird analyst Ghansham Panjabi downgraded Sealed Air (NYSE: SEE) from Outperform to Neutral with a price target of $42.00 (from $45.00).

The analyst comments: "Our lowered investment rating on Sealed Air to Neutral follows the expiration of the 30-day go-shop period as part of the pending acquisition of the company by private equity firm CD&R—noting that there were 29 interested parties over the past month, highlighting significant interest in the Packaging sector in context of valuations at a decade-low. Our updated Top Picks basket (BALL/FUL/SXT) reflects the removal of Sealed Air, commensurate with our ratings downgrade."

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 $41.35 yesterday.

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