Ahead of the Bell: JPMorgan downgrades Tupperware

A JPMorgan analyst downgraded shares of Tupperware Corp. to "Neutral" from "Overweight" Wednesday, saying that the company faces greater risk from weakness in overseas markets and a stronger dollar.

Analyst Dara Mohsenian said a stronger dollar could hurt Tupperware since a rise in the dollar could dampen overseas profits. Mohsenian said 92 percent of the company's profits are from international markets.

"We think the downturn in global economic markets in general, and particularly the risk that developed market weakness could spread to more volatile emerging markets, creates significant risk for Tupperware," Mohsenian added.

The analyst added that Tupperware faces tough comparisons with recent positive earnings news, which leaves less room for upside.

JPMorgan analysts instead recommended Newell Rubbermaid, which the firm rates "Overweight." Mohsenian said Newell could benefit from a sharp pullback in commodity costs and aggressive price increases.