UPDATE: Deutsche Bank Raises PT to $23 on Newell Rubbermaid

Deutsche Bank maintains its Buy rating on Newell Rubbermaid NWL and raies its price target $2 to $23 on better balance sheet, management and portfolio. Deutsche Bank says, "Recovering from brutal recessionary pressures on its categories with a vastly improved balance sheet; strong, incentivized and eager CEO and an improved portfolio to win against peers, we continue to see strong sales and margin recovery trajectory at a still undemanding valuation. Maintain Buy, raising target to $23 (from $21). 2012 CAGNY presentation highlights strategy and potential." NWL closed at $18.82 a share on Wednesday.