UPDATE: Deutsche Bank Reiterates on Newell Rubbermaid, Raises PT on Positive Outlook
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Newell Rubbermaid (NYSE: NWL), and raised the price target from $32.00 to $34.00.
In the report, Deutsche Bank noted, “Restructuring savings are accelerating, commodities are manageable and strategic investments are bearing fruit allowing company to drive a virtuous cycle of top and bottom-line acceleration as cash flow inflects. With reasonable valuation, stellar management and announcement of Accelerated Share Repurchase which should further support EPS growth into next year, and again shows management has its finger on the shareholders' pulse, we maintain Buy and are raising price target to $34 (from $32).”
Newell Rubbermaid closed on Friday at $29.40.
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