Tupperware Downgraded at Goldman Sachs on Euro Concerns (TUP)


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Consumer products maker Tupperware Brands Corporation ( TUP ) on Wednesday saw its rating and earnings estimates lowered by analysts at Goldman Sachs.

The firm said it cut TUP from "Buy" to "Neutral" with a $57 price target, which still implies a 21% upside to the stock's Tuesday closing price of $47.30.

Goldman also cut its earnings estimates for the company, citing concerns over the weak Euro.

Tupperware shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Tupperware ( TUP ) have a 2.54% dividend yield, based on last night's closing stock price of $47.30. The stock has technical support in the $44 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels.

Tupperware Brands Corporation ( TUP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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