UPDATE: UBS Starts Newell Rubbermaid (NWL) at Buy
- S&P 500 edges down on virus woes, slowing economy
- 'Becoming JP Morgan of the Future': Square (SQ) Dips on Deal to Acquire BNPL Afterpay For $29B in Stock, Benefits Outweigh High Price Says Analyst
- Oil falls over 3% on concerns over demand and OPEC supply boost
- ON Semiconductor (ON) Surges on Strong Q2 Results and Q3 Outlook
- Dollar wavers on dovish Fed tone, mixed economic outlook
UBS analyst Peter Grom initiates coverage on Newell Rubbermaid (NASDAQ: NWL) with a Buy rating and a price target of $33.00.
The analyst comments "We believe NWL has laid the groundwork for continued organic growth momentum and margin expansion. With a favorable near-term set-up, as a normal back to school season this year should benefit NWL's largest and most profitable segment (Writing); with continued innovation-led market share gains, we see room for shares to re- rate higher."
Shares of Newell Rubbermaid closed at $26.52 yesterday.
You May Also Be Interested In
- Wells Fargo Upgrades Newell Rubbermaid (NWL) to Equal Weight
- Newell Rubbermaid (NWL) PT Lowered to $27 at Morgan Stanley
- Newell Rubbermaid (NWL) PT Lowered to $26 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!