Sealed Air price target lowered to $51 from $53 at Jefferies

Jefferies analyst Philip Ng lowered the firm’s price target on Sealed Air (SEE) to $51 from $53 and keeps a Buy rating on the shares. While demand remains muted for the group, in-line to modest beats “should be enough for relief rallies,” the analyst tells investors in a Paper & Packaging Q3 earnings preview. Walmart (WMT) comments that the company has seen some impact from GLP-1 has led to the selloff in the sector, with Ball (BALL), Crown Holdings (CCK) and Berry Global (BERY) “particularly hard hit,” the analyst noted.