RBC Capital analyst Arun Viswanathan downgraded Pactiv Evergreen (PTVE) to Sector Perform from Outperform with a price target of $18, up from $14, after the company entered into an agreement to merge with Novolex for $18 per share. RBC views the stock as fairly valued at current levels, noting the acquisition by Novolex has shareholder approval.
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Read More on PTVE:
- Pactiv Evergreen downgraded to Hold from Buy at Jefferies
- Pactiv Evergreen price target raised to $18 from $12 at Baird
- BofA moves to No Rating on Pactiv Evergreen after Novolex deal
- Pactiv Evergreen downgraded to Neutral from Buy at Citi
- Pactiv Evergreen Merges with Novolex in $6.7B Deal
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
