BWS Financial Downgrades Spectrum Brands (SPB) to Hold on Recent Rally

BWS Financial downgraded Spectrum Brands (NYSE: SPB) from Buy to Hold with a price target of $46.00 (from $46.00), following the recent rally.

"The exuberance comes at a time when SPB has yet to post any quarterly numbers for fiscal 2013 to support its current debt load, which our $46 price target is based upon," the analyst notes. In addition, the firm said they have observed in the past month some large retailers stage deep discounts on competing battery brands to push inventory off store shelves. "Our reasoning for cutting our rating after more than two years has more to do with the risk of consumer habits and investor perception."

For an analyst ratings summary and ratings history on Spectrum Brands click here. For more ratings news on Spectrum Brands click here.

Shares of Spectrum Brands closed at $42.12 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• JPMorgan Downgrades Monster Beverage (MNST) to Neutral
• Piper Sandler Downgrades Peapack-Gladstone Financial (PGC) to Neutral
• Summit Insights Downgrades Silicon Labs (SLAB) to Hold, 'expect its stock to be an inline performer'