In The Aftermath Of Brexit, These 2 Stocks May Be Oversold

"We'd acknowledge NWL/SPB's more discretionary portfolios/higher debt leverage in an uncertain global macro; however, patient investors are likely to be rewarded with NWL/SPB trading at 15x/16x EV/ULFCF vs. group at 22x," analyst Kevin Grundy wrote in a note.

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Newell

At Newell, the analyst sees "(i) > 30 percent EPS accretion from JAH deal in FY18; (ii) up to $500 million in add'l cost synergies (each $100 million = $2/share, pre-reinvestment); (iii) other synergy levers (working cap, tax rate, portfolio rationalization); (iv) best-in-class mgmnt; and (v) asymmetrical risk reward."

The analyst has a Buy rating and $59 price target on the stock. The $59 price target represents a potential upside of 26 percent from Tuesday's close of $46.96.

Spectrum

At Spectrum, the analyst sees: "(i) accelerating organic sales growth; (ii) EBITDA margin improvement ahead of expectations; (iii) upside to Street estimates (our FY16-17 EBITDA est. are 3 percent/5 percent ahead of consensus); and (iv) attractive valuation at 16x adj. CY17e EV/ULFCF (c. 25 percent discount to staples on adj. EV/ULFCF basis)."

Grundy rates Spectrum at a Buy with a target price of $143, implying an upside of 25 percent from Tuesday's close of $114.56.