Jefferies reiterated a Buy rating and $51.00 price target on Newell Rubbermaid (NYSE: NWL) following the company's 4Q earnings report. NWL delivered solid 4Q organic sales of 6.2%, beating the Street's +4.7% estimate, owing to strong results in Baby/Writing/Commercial. The company maintained its FY16 EPS guide, ex-VZ, of $2.21-$2.30 (c. +25% FX neutral), despite an additional 5-cent hurt from FX, and maintained its outlook for 4-5% core sales growth.

Analyst Kevin Grundy commented, "We agree with CEO Polk's characterization of NWL as a "risk-on scenario in a risk-off environment," though fundamentals will ultimately win out here. Following a strong 4Q, enhanced FY16 FX neutral EPS guidance, and confident tone on value creation avenues from the JAH deal, we continue to see a path to our $70 bull case (80% TSR) over the next 2-3 years. Buy, $51 PT, remains a top pick."

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Shares of Newell Rubbermaid closed at $38.78 yesterday.