Monness analyst maintained a Buy rating on Spectrum Brands Holdings today and set a price target of $86.00.
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Monness has given his Buy rating due to a combination of factors influencing Spectrum Brands Holdings. Despite some uncertainties, such as potential tariff impacts on FY26 EBITDA and a forecasted modest sales and EBITDA miss for 3QFY25, Monness sees positive trends in certain segments. The Pet and Lawn & Garden categories have shown improvement, with Scotts Miracle-Gro reporting strong unit POS trends and a positive outlook for the fall season.
Furthermore, Spectrum Brands has been proactive in managing its supply chain risks by reducing its dependency on China, which should mitigate some tariff impacts. The company has also implemented strategic price increases, which have been accepted by retailers, helping to balance market share and margins. These factors, combined with a valuation at 6.5x EBITDA, support Monness’s Buy rating for Spectrum Brands Holdings.