Sealed Air upgraded to Buy from Neutral at Mizuho

Mizuho upgraded Sealed Air to Buy from Neutral with a price target of $50, up from $36. The shares have underperformed the market significantly over the past two years due to negative volume trends. However, Mizuho believes a volume inflection is imminent which should drive favorable investor sentiment and higher earnings. The firm says the end of inventory destocking, easier compares, and a gradual pickup in demand should be drivers of volume growth.