Piper Jaffray Starts Newell Rubbermaid (NWL) at Neutral

Piper Jaffray initiates coverage on Newell Rubbermaid (NYSE: NWL) with a Neutral rating and a price target of $37.00.

Analyst Stephanie Wissink comments, "We maintain a constructive view of the company’s brand portfolio, execution surrounding key strategic initiatives, and capital yield framework, but we are mindful of the multiple relative to current pace of business, historical averages, the market, and other CPG companies. We think shares are fairly valued. As the company executes against its strategic growth plan, we think the multiple will hold. Through our diligence, we are comfortable being toward the lower end of the company’s revenue growth guidance, but recognize that EPS is trending toward the upper end. We think currently estimated 10%-ish EPS growth into next year is reasonable and factored into shares in the mid- to upper-$30s."

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 $34.46 yesterday.

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