Sealed Air Gets Mixed Reactions From Analysts Post Q2 Results

• RBC Capital analyst Arun Viswanathan upgraded Sealed Air Corp (NYSE: SEE) to Outperform from Sector Perform and raised the price target to $70 (an upside of 23%) from $66.

• The analyst believes the stock is attractive at current levels and offers ~25% potential upside given modest FY23 assumptions.

• Viswanathan notes that Q2 volume weakness was mainly on tough comps, and industrial is now a small portion of the company; hence expects some lsd% volume growth in FY23.

• The analyst mentions that the Conversation with CFO highlights business transformation, confidence in the strategy, and continued growth in 2023.

• Related: Sealed Air Shares Slide On Q2 Sales Miss

• Mizuho Securities analyst Christopher Parkinson lowered the price target for Sealed Air to $68 (an upside of 20%) from $72 while maintaining the Neutral rating on the shares.

• The analyst says that there were certainly a few "yellow flags" within SEE's 2Q print; it's his view the -9% hit is slightly overdone, particularly in the context of strong price momentum.

• Parkinson believes volume concerns are unlikely to abate during the 2H, especially in Protective.

• Price Action: SEE shares are trading higher by 0.91% at $56.68 on the last check Wednesday.

Latest Ratings for SEE

Date	Firm	Action	From	To
Feb 2022	JP Morgan	Downgrades	Overweight	Neutral
Feb 2022	Wells Fargo	Maintains		Equal-Weight
Jan 2022	Morgan Stanley	Upgrades	Equal-Weight	Overweight

View More Analyst Ratings for SEE

View the Latest Analyst Ratings

See more from Benzinga

• Alaska Airlines, Gevo Ink Sustainable Aviation Fuel Agreement

• ManTech Bags $184M Contract To Support NAVSEA Integrated Warfare Systems

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.