Sealed Air price target lowered to $59 from $64 at Credit Suisse

Credit Suisse analyst Curt Woodworth lowered the firm’s price target on Sealed Air to $59 from $64 and keeps a Neutral rating on the shares. The firm is becoming more constructive on Sealed Air as most of the negative catalysts Credit Suisse had outlined in its downgrade report have played out. Nonetheless, the firm thinks many investors came away from the Q4 conference call skeptical of the guidance given the backend-loaded nature but it argues that Sealed Air has historically been conservative with initial guide ranges and clearly has easier comps in the second half of 2023.