BofA Merrill Lynch analyst Olivia Tong upgraded Spectrum Brands (SPB) to Buy from Neutral and raised her price target on the shares to $65 from $50, stating that she sees the company "on steadier footing" to start 2019 after closing the divestiture of its battery and auto care businesses to Energizer (ENR) and collapsing its HRG ownership. While she said she does not expect an immediate turnaround this quarter, Tong thinks the focus can turn back to sales, EPS, and FCF delivery given the company's more focused portfolio and easier comps, she tells investors.