SEE - Sealed Air downgraded to Equal weight at Morgan Stanley
2023-05-10 09:54:45 ET
Sealed Air ( NYSE: SEE ) on Wednesday was downgraded to Equal weight from a prior investment rating of Overweight by analysts at Morgan Stanley. They said the maker of Bubble Wrap and other packaging faces uncertainties with the timing and strength of a rebound in demand.
The stock is “over the next six to 12 months more of a ‘show me’ story,” Angel Castillo, analyst at Morgan Stanley, said in a May 10 report. “Investors will want to see evidence of not just volume recovery, but of sustainable organic volume growth and further progress in the automation and digital initiatives before re-rating the stock higher.”
Morgan Stanley lowered its price target for Sealed Air ( SEE ) to $48 a share from $60 previously, based on lowered valuation multiples including a price-to-earnings ratio of 13.5 times, down from 14 times.
Crown Holdings ( NYSE: CCK ) is the bank’s most preferred stock in the packaging industry, with an Overweight rating.
Sealed Air's ( SEE ) stock declined 33% in the 12 months through May 9, contrasting with a 2.5% gain for the Standard & Poor's midcap stock index ( SP400 ).
Seeking Alpha columnist Leo Nelissen rates Sealed Air ( SEE ) as a Strong Buy on its longer-term potential for gains . Contributor Daniel Jones has a Buy rating on Sealed Air ( SEE ) on its valuation .
More on Sealed Air
- Sealed Air sinks after Q1 miss, second straight sharp quarterly drop in volumes
- Sealed Air raised to Buy at UBS as inflecting point nears
For further details see:
Sealed Air downgraded to Equal weight at Morgan Stanley