Jefferies downgrades Pactiv Evergreen to "hold"; raises PT

Pactiv Evergreen

18/12/2024 17:21

** Brokerage Jefferies downgrades Pactiv Evergreen  PTVE.O 
to "hold" from "buy"
    ** Jefferies raises PT to $18 from $15; new PT represents
~4% upside to stock's last close
    ** Brokerage cites the company's sale to Novolex for its
action, views the regulatory risk as manageable
    ** Packaging firm Novolex said last week it will take rival
PTVE private in a $6.7 billion deal
    ** Up to last close, shares up ~26% YTD
   

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))