Canaccord starts Newell Brands at Buy with better days ahead

Canaccord initiated coverage of Newell Brands with a Buy rating and $13 price target. Newell is a global consumer goods company with a portfolio of well-known brands, with the top 10 including Rubbermaid, Graco, Coleman and Sharpie, the analyst tells investors in a research note. After a “well-telegraphed ugly” first half of 2023, “better days are ahead” with new management at the helm and a reasonable strategy that will reignite modest sales growth, improve profitability and cash flows, and reduce leverage, says the firm.