Sealed Air surges after upbeat forecast, results

Sealed Air

08/08/2024 16:01

** Packaging solutions provider Sealed Air's shares  SEE.N 
rise ~10% to $38
    ** Co posts Q2 adj. profit of $0.83/shr, beating estimates
of $0.64/shr - LSEG data
    ** Co reports Q2 rev of $1.34 bln that beat estimates of
$1.3 bln
    ** SEE expects FY adj. profit to be between $2.65/shr and
$3.05/shr
    ** Analysts expect FY profit at $2.88/shr
    ** 9 of 17 brokerages rate the stock "buy" or higher, 8
"hold"; their median PT is $43 - LSEG data
    ** Stock had risen ~3% YTD 

 (Reporting by Anshuman  Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com;))