UPDATE: UBS Starts Newell Rubbermaid (NWL) at Buy

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."

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 $26.52 yesterday.

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