Newell Brands price target lowered to $11 from $12 at Canaccord

Canaccord analyst Brian McNamara lowered the firm’s price target on Newell Brands (NWL) to $11 from $12 and keeps a Buy rating on the shares. The firm said they reported Q1 results that were generally in line with or modestly better than consensus across key metrics. Although China sourcing exposure in 2024 was 15% of which 70% is Baby gear, which was exempt during Trump 1.0, the company believes that it is competitively advantaged in several categories compared to peers and will be a net beneficiary when it’s all said and done.