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Newell Brands upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Newell Brands (NWL) to Overweight from Neutral with a price target of $7, up from $6. The firm cites the company’s increased speed of relevant innovation, distribution gains in key retailers, and potential for market share improvement as most peers’ source from abroad for the upgrade. Newell is tariff advantaged in more categories it competes in than the company is disadvantaged in with 15 manufacturing facilities in the U.S. and two Mexican production facilities that are United States-Mexico-Canada Agreement compliant, the analyst tells investors in a research note. JPMorgan came away from a recent meeting with management away more confident that Newell is “finally on the right track to deliver on the turnaround.” A more focused portfolio, efficient systems and logistics should set the company as a winner in its categories, the firm contends.

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