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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NWL:
- Judge blocks Tapestry-Capri deal, Centene reports Q3 beat: Morning Buzz
- Unusually active option classes on open October 25th
- Morning Movers: Capri sinks after judge blocks planned takeover by Tapestry
- Newell Brands raises FY24 normalized EPS view to 63c-66c from 60c-65c
- Newell Brands reports Q3 normalized EPS 16c, consensus 16c