Report
Charles Gross
EUR 147.86 For Business Accounts Only

Transferring Coverage of Sealed Air; Increasing Fair Value to $44 from $40 On Diversey Progress

We're transferring coverage of Sealed Air, and have increased our fair value estimate to $44 from $40 per share. We believe the growth outlook for Sealed Air is one of the more robust within the packaging space, thanks to exposure to Latin America, Southeast Asia, and the Middle East. We think revenue growth should average around 4% annually, with margins rising by around 300 basis points by 2020.
The convergence of emerging market diets to those of developed markets should provide a tailwind f...
Underlying
Sealed Air Corporation

Sealed Air is a global provider of packaging solutions for the food, e-Commerce, electronics and industrial markets. The company serves an array of end markets including food and beverage processing, food service, retail, commercial and consumer applications, by providing food safety and security, product protection and equipment. The company's segments include: Food Care, which serves perishable food processors, predominantly in chilled, smoked and processed meat, poultry and dairy-solid markets worldwide, and maintains positions in target applications; and Product Care, in which its solutions are designed to protect goods in shipping.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Charles Gross

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