Why Newell Brands Stock Raced More Than 5% Higher Today
A pair of analysts lifted their price targets on the consumer goods conglomerate.
Overview
Volatile stock Newell Brands (NASDAQ: NWL), the company with a portfolio of familiar household brands such as Rubbermaid, kitchen gear, and Sharpie pens, saw an encouraging rebound in Thursday's trading. Bolstered by not one, but two analyst price target raises, investors eagerly bought the stock, and it closed the day over 5% higher.
Of the two increases, the one made by Andrea Teixeira of JPMorgan Chase's J.P. Morgan was the more impactful. She cranked her Newell fair value assessement 40% higher, to $7 per share from the previous $5. In doing so, the analyst maintained her overweight (buy, in other words) recommendation on the consumer goods conglomerate.
Details
Source
Originally published at www.fool.com.