Newell Brands price target lowered to $9 from $11 at Wells Fargo

Wells Fargo lowered the firm’s price target on Newell Brands (NWL) to $9 from $11 and keeps an Equal Weight rating on the shares. The firm says Newell’s selloff was harsh but ultimately there’s little room for shortfalls in this tape and a slight underlying Q4 miss, weak Q1 sales outlook and little clarity on when the company returns to revenue growth all conspired to hit confidence.