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Stock Market & Financial Investment News

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June 10, 2014
08:45 EDTSEESealed Air secondary should be accretive in 2014, says Jefferies
Jefferies notes the W.R. Grace Asbestos Trust is selling roughly half of its 18M share position in Sealed Air (SEE) through a secondary offering and that Sealed Air is buying back 3.9M shares. The firm estimates the secondary should be 2c-3c accretive to earnings in 2014 and it expects shares of Sealed Air to open flat to modestly higher following the news. Jefferies has a Hold rating on the stock with a $36 price target.
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