Spectrum Brands price target lowered to $65 from $75 at Wells Fargo

Wells Fargo lowered the firm’s price target on Spectrum Brands (SPB) to $65 from $75 and keeps an Equal Weight rating on the shares. The firm is refreshing its global sell-in/sell-through framework one last time before EPS kicks off next week. The final cut of U.S. data is likely to accelerate jitters on consumption, even as emerging market data felt a positive offset for multi-nationals.