** 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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