Sealed Air price target lowered to $38 from $44 at Wells Fargo

Wells Fargo lowered the firm’s price target on Sealed Air to $38 from $44 and keeps an Equal Weight rating on the shares. The firm believes Sealed Air continues to face a tough macro backdrop with operational challenges in Liquibox lingering in the second half of the year/2023. That said, CTO2Grow as well as focus on automation should help the company revert to LSD volume growth next year, the firm adds.