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Fly News Breaks for November 5, 2018
NWL
Nov 5, 2018 | 08:31 EDT
Jefferies analyst Kevin Grundy lowered his price target for Newell Brands to $20 following the company's "mixed" Q3 results. While below Street estimates, Newell's Q3 core sales improved sequentially and "cleared the low bar," Grundy tells investors in a research note. Further, he believes the return to growth in Writing is encouraging. However, results missed expectations in the remainder of Newell's portfolio and "myriad risks remain," including tariffs, says Grundy. The analyst remains on the sidelines with a Hold rating.
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