UPDATE: Oppenheimer Upgrades Newell Rubbermaid

According to a research report published this morning, Oppenheimer has upgraded Newell Rubbermaid

from Perform to Outperform. In the report, Oppenheimer said, "We are upgrading NWL to Outperform from Perform with a $23 DCF-derived target price. Our more constructive view is based on our increased confidence that, through the early progress made on Project Renewal and its new growth game plan, NWL is steadily evolving into a solid multi-year growth story." Newell Rubbermaid closed Friday at $18.56.