Wells Fargo analyst Chris Carey raised the firm’s price target on Newell Brands (NWL) to $9 from $8 and keeps an Equal Weight rating on the shares. The firm notes Newell’s high-margin Learning and Development segment beat top line/margins, driving an op profit beat with bias on estimates revisions higher. At low valuation with probably some thematic shorts, this was plenty to drive a rally, Wells adds.
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