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Fly News Breaks for December 14, 2018
SEE
Dec 14, 2018 | 07:29 EDT
BofA/Merrill analyst George Staphos upgraded Sealed Air to Buy and increased its price target to $41 from $40 following its recently announced new "Reinvent See" strategy. Management provided additional details yesterday on its operating model redesign which will focus on SG&A productivity, speed to market innovations, cost efficiency, and channel optimization and service enhancements. Staphos said Sealed Air's valuation fairly reflects the risks and sees potential catalysts from the benign resin environment.
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