Spectrum Brands price target raised to $62 from $55 at Wells Fargo

Wells Fargo analyst Chris Carey raised the firm’s price target on Spectrum Brands (SPB) to $62 from $55 and keeps an Equal Weight rating on the shares. After a challenging FY25, Spectrum expects stabilization into FY26, the firm notes, which it believes is clearly positive. Wells sees this balanced by a FY26 outlook that is back-half weighted on EBITDA.