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Sealed Air (SEE +2.7%) is on the rise even after J.P. Morgan downgraded shares to Impartial from Chubby with a $71 worth goal, saying the corporate probably will proceed to maintain inflationary headwinds in uncooked supplies and its working bills amid greater labor and provide chain prices.
JPM’s Jeffrey Zekauskas notes Sealed Air has been a big outperformer each YTD and over the previous 12 months, up 54% in a market that’s up simply 9% over the previous 12 months, and credit the outperformance to the corporate’s strides in constructing out its tools enterprise and – till not too long ago – as a beneficiary of decrease uncooked materials prices.
Sealed Air shares have been buying and selling close to all-time highs after This fall outcomes roughly matched analyst expectations whereas guiding for higher than forecast FY 2022 revenues.
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