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

October 17, 2016 8:18 AM EDT
Get Alerts NWL Hot Sheet
Price: $52.48 -0.04%

Rating Summary:
    16 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
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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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