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.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NWL:
- Positive Outlook for Newell Brands: Strategic Initiatives and International Expansion Drive Buy Rating
- Newell Brands Stockholders Approve Key Proposals at Meeting
- Newell Brands Announces $1.25B Senior Notes Offering
- Newell Brands price target lowered to $5.80 from $8.50 at Morgan Stanley
- Newell Brands price target lowered to $8 from $9 at RBC Capital