Goldman Sachs Upgrades Specialty Packaging to Attractive (MWV) (BMS)

Earlier, Goldman Sachs upgraded the Specialty Packaging sector from Neutral to Attractive citing strong EPS growth outlook, multiple expansion and historical outperformance in a higher risk US macro environment.

MeadWestvaco Corporation (NYSE: MWV) remains the firm's top pick and they reiterated their Conviction Buy List rating on the stock.

The firm sees stronger rigid paper and metal cans fundamentals relative to flexible packaging, citing greater industry consolidation and more favorable ROC trajectory.

Goldman lowered its rating on Bemis Company, Inc. (NYSE: BMS) from Neutral to Sell.

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