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Fly News Breaks for December 19, 2018
SEE
Dec 19, 2018 | 06:55 EDT
As reported earlier, BMO Capital analyst Mark Wilde upgraded Sealed Air to Outperform from Market Perform with a price target of $40. The analyst notes that while 2018 was a challenging year amid FX headwinds, resin/freight inflation, and volume pressure in Product Care segment, the risk/reward on the stock has "clearly skewed" to the upside. Wilde also points to the recent restructuring program announced by Sealed Air CEO and believes that the pressure related to resin costs, which is "the largest component of cost-of-goods-sold", is easing.
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