Newell Brands (NWL): Bull Case Goes To $90 - Jefferies

October 17, 2016 8:18 AM EDT
Get Alerts NWL Hot Sheet
Price: $47.00 --0%

Rating Summary:
    15 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies analyst, Kevin Grundy, reiterated his Buy rating on shares of Newell Brands (NYSE: NWL) and cited it as a top pick after the recently announced portfolio divestitures are likely the first step in pruning JAH’s portfolio.

The analyst estimates pruning may be ~35% of the acquired brands over the next 2-4 years – ahead of the >25% divested by CEO Polk at NWL since ’12. The analyst's portfolio review suggests ~50 bps/~100 bps potential benefit to org sales/OM % and ~1x to NWL’s EV/EBITDA multiple from potential portfolio changes, driving a higher bull case of ~$90/share.

No change to the price target of $66.

For an analyst ratings summary and ratings history on Newell Rubbermaid click here. For more ratings news on Newell Rubbermaid click here.

Shares of Newell Rubbermaid closed at $52.25 yesterday.

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