Spectrum Brands price target lowered to $75 from $80 at RBC Capital

RBC Capital analyst Nik Modi lowered the firm’s price target on Spectrum Brands (SPB) to $75 from $80 and keeps an Outperform rating on the shares. The company faced supply challenges in 3Q due to shipment halts in response to tariff impacts, which resulted in organic growth falling double digits, the analyst tells investors in a research note. That said, corrective actions taken by the company have fully eliminated its tariff exposure, RBC added.