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Fly News Breaks for February 19, 2019
NWL
Feb 19, 2019 | 08:07 EDT
Wells Fargo analyst Bonnie Herzog lowered her price target for Newell Brands to $21 from $36 following the sharp selloff in the stock. The analyst believes expectations have now been reset, and following her call with the company, she has increased conviction that FY19 guidance was set very conservatively, with potential upside to Q1, and the set-up has now become a beat-and-raise story over the next 12 months. Herzog reiterates an Outperform rating on the shares.
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