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Fly News Breaks for May 3, 2017
SPB
May 3, 2017 | 07:56 EDT
Wells Fargo says that the 7.5% drop in Spectrum following its Q2 miss creates an attractive entry point. The firm says that the miss "largely reflected" one-time difficulties, and did not represent a deterioration in the company's fundamentals. Wells expects the company's 2H17 results to be boosted by seasonality, and it thinks the company has multiple, positive catalysts, including "the new H&G and European Battery capacity, distribution wins, AutoCare and H&G international expansion." It keeps an Outperform rating on the shares.
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