UPDATE: Morgan Stanley Reiterates On Newell Rubbermaid As Top Pick Within Coverage

In a report published Monday, Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on Newell Rubbermaid (NYSE: NWL), and raised the price target from $34.00 to $36.00.In the report, Morgan Stanley noted, “NWL is our top pick in our coverage both short and long term. We believe rebounding organic sales growth post a weak Q1 will act as a positive catalyst for the stock, and that Q1 was an aberration with the baby recall, poor weather, and weak macros (all of which improve going forward). Visibility on a balance of the year rebound has been reinforced by recent incremental positives that support our OW rating.”Newell Rubbermaid closed on Thursday at $31.55.