Newell Brands jumps after Truist Securities upgrades to 'buy', raises PT

Newell Brands

09/12/2024 18:34

** Shares of Sharpie maker Newell Brands  NWL.O  up ~11% at
$11.44 in afternoon trading, their highest since July 2023
    ** Brokerage Truist Securities raises rating to "buy" from
"hold", raises PT to $17 from $10
    ** With organic sales growth for the company now on the
horizon (expected in 2025 by management), we believe investors
will take notice and the stock will be revalued closer to its
historic multiple — brokerage
    ** Believes 2025 will be the first "normal" operating
environment for the company since 2019 enabling the turnaround
efforts to be more apparent to investors
    ** Says NWL has already seen a return to organic growth for
its Learning & Development category and expect growth to
accelerate to 2025
    ** Three of 13 brokerages rate the stock "buy" and 10
"hold", their median PT is $9.25 — LSEG
    ** Including session moves, stock up nearly 32% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))