Investment firm Canaccord has revised its price target for Newell Brands (NWL, Financial), decreasing it from $14 to $12 while maintaining a Buy rating for the company’s stock. This decision comes as the firm updates its financial model in anticipation of Newell's first-quarter earnings report.
The adjustment follows a detailed analysis of market data, including Circana sales figures, search engine insights from Semrush, and trends in social media activity related to companies under Canaccord's observation.
Despite the revised outlook, Canaccord remains optimistic about Newell Brands' (NWL, Financial) risk and reward potential. They believe the stock has been unduly impacted by being grouped with companies susceptible to tariff-related risks, even though a large portion of its sourcing is U.S.-based.
While current market uncertainties may pose a challenge to Newell Brands' return to growth, Canaccord suggests these factors are already adequately mirrored in the stock's current valuation.
