Tupperware downgraded to sector weight at KeyBanc due to emerging market concerns

Tupperware Brands Corp. was downgraded to sector weight from overweight at KeyBanc Capital Markets on concerns about the company's ability to offset struggling emerging markets with growth in other regions. Brazil and China have become headwinds for many companies, with Indonesia, India and Malaysia also becoming "much more challenged," KeyBanc analysts said in a Friday note. A number of these countries "are among Tupperware's larger regions." The company is relying on North America to generate 6% to 8% organic growth, which leaves "little room for error," the note said. Analysts also view the announcement that Tupperware's 10-K has been delayed as "another complication that this story did not need." Tupperware shares are up 1.4% in Friday trading, but are down 31.8% for the past year. The S&P 500 is down 7.4% for the past 12 months.

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