BUZZ-Jefferies downgrades Pactiv Evergreen to "hold"; raises PT

Reuters

2024/12/19

** Brokerage Jefferies downgrades Pactiv Evergreen PTVE.O to "hold" from "buy"

** Jefferies raises PT to $18 from $15; new PT represents ~4% upside to stock's last close

** Brokerage cites the company's sale to Novolex for its action, views the regulatory risk as manageable

** Packaging firm Novolex said last week it will take rival PTVE private in a $6.7 billion deal

** Up to last close, shares up ~26% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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