Newell Brands price target lowered to $5 from $6 at Wells Fargo

Wells Fargo lowered the firm’s price target on Newell Brands (NWL) to $5 from $6 and keeps an Equal Weight rating on the shares. The firm credits Newell for some stabilization, progress on gross margins and leverage, and Newell sure is cheap. But, it’s just tough to embrace until visibility improves, namely topline, along with tariff impact yet embedded in estimates, Wells adds.