Brian McNamara, an analyst from Canaccord Genuity, reiterated the Buy rating on Newell Brands (NWL – Research Report). The associated price target remains the same with $11.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Brian McNamara has given his Buy rating due to a combination of factors that indicate a positive outlook for Newell Brands. The company’s strategic initiatives, spearheaded by CEO Chris Peterson, have shown promising results over the past two years, including brand and SKU rationalization, a focus on innovation, and an enhanced supply chain. These efforts are expected to lead to a return to top-line growth, with a modest and sustainable increase in organic growth anticipated.
Newell Brands has concentrated its resources on its top-performing brands, which account for a significant portion of its sales, and has streamlined its operations by reducing the number of SKUs and distributors. This strategic focus is complemented by successful product launches, such as Sharpie’s Creative Markers and EXPO’s upgraded ink, which are expected to drive further growth. Additionally, the company’s international expansion strategy, particularly in Latin America, is poised to contribute positively to its revenue, reinforcing McNamara’s confidence in a Buy rating with a price target of $11.