Bank Of America Reiterates Buy Rating On Newell Rubbermaid

According to Bank of America, Newell Rubbermaid

estimates are raised. Bank of America said that after lowering the 2011 EPS est on 7/7 to $1.52, it is raising its est back to $1.59 (vs mgmt's $1.55-$1.62 guidance) on higher sales and gross margin. “We reiterate our Buy rating at $22 target on the view that the market is pricing in an unrealistically low probability that the company can deliver on its commitments.” Newell Rubbermaid closed on Friday at $15.52.