Newell Rubbermaid (NWL) PT Raised to $36 at Jefferies

Jefferies analyst Kevin Grundy raised the price target on Newell Rubbermaid (NASDAQ: NWL) to $36.00 (from $34.00) while maintaining a Buy rating as the stock remains a Top Pick following its solid Q4 and 2022 outlook.

The analyst commented, "NWL remains a top pick, though our above-consensus EPS ests. ('23/24 +9%/>25% vs. Street) are little changed post co.'s strong 4Q. NWL may be the best “self-help” story in staples, offering multiple ways to win w/accelerating sales growth, added mgmt. depth, untapped intl. potential, substantial OM % oppty. (600-800 bps), activist on BOD, return of cap story emerging, plausible >$4 in EPS by ’26 (Street ~$2.25), and (+) valuation at <11x EV/EBITDA. PT to $36."

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