This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Analyst Downgrades Specialty Packaging Sector

HARTFORD, Conn. (AP) ¿ Profit growth at specialty packaging companies is expected to lag other companies as the economy recovers next year, an analyst said Friday as he downgraded the sector.

Goldman Sachs analyst Richard Skidmore lowered his rating to "Neutral" from "Attractive."

Growth in earnings per share for packaging companies is expected to lag the Standard & Poor's 500 index next year because the sector's food and beverage markets will improve more slowly than other businesses as the economy improves, Skidmore said in a note to investors.

Food and beverage markets did not experience the downturn last year "and therefore, we do not expect will experience a sharp upturn as the economy recovers," he said.

Skidmore cut his rating for packaging-products maker Sealed Air Corp. of Elmwood Park, N.J., to "Sell" from "Neutral" and downgraded Philadelphia-based Crown Holdings Inc., which makes food and drink packaging, to "Neutral" from "Buy."

He raised his 2010 earnings estimates for Bway Holding Co., an Atlanta-based supplier of metal and plastic containers to $1.25 per share from $1.15 per share and increased his 2011 estimate and to $1.50 per share $1.25 per share. He said expects stronger recovery in paint cans than he previous believed.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CCK $52.96 0.00%
OI $18.46 0.00%
SEE $47.36 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs