Deutsche Bank Starts Spectrum Brands (SPB) at Buy; Emerged a Much More Focused and Disciplined Operator

Deutsche Bank initiates coverage on Spectrum Brands (NYSE: SPB) with a Buy. PT $40.00.

Deutsche analyst says, "Emerging from its rollup and subsequent bankruptcy with a much more manageable debt load and more focused portfolio, Spectrum is driving strong cash flow growth to further deleverage the balance sheet, acknowledging its tepid growth prospects and driving cost savings to boost margins. With what we regard as a decent path to EBITDA growth and better free float for investors to get more interested, we see upside to our $40 target."

For more ratings news on Spectrum Brands click here and for the rating history of Spectrum Brands click here.

Shares of Spectrum Brands closed at $27.81 yesterday.

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