Newell Brands upgraded to Overweight from Equal Weight at Barclays

TipRanks

Thu, Nov 21, 2024, 4:20 AM 1 min read

Barclays upgraded Newell Brands (NWL) to Overweight from Equal Weight with a price target of $10, up from $8. The firm believes Newell’s turnaround strategy “is still in the very early days of yielding benefits” and expects this to result in share price outperformance. The company ticks “a lot of boxes for the current investing landscape” given its cyclical exposure, insulated from tariffs, and mid-cap value, the analyst tells investors in a research note. Barclays says this is complimented by “still-improving fundamentals and a long runway for margin improvement.”