Sealed Air downgraded to Neutral from Buy at UBS

UBS analyst Joshua Spector downgraded Sealed Air to Neutral from Buy with a price target of $59, down from $65. The firm cites weaker market growth and slower automation recovery for the downgrade, with the analyst telling investors in a research note that risk-reward is more balanced. UBS doesn’t believe the stock can re-rate until there is more visibility on a return of automation led growth, which will take time as parts availability issues persist and slowing markets temporarily limit demand.