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Fly News Breaks for April 30, 2018
SPB
Apr 30, 2018 | 07:22 EDT
Deutsche Bank analyst Faiza Alwy views the risk/reward on Spectrum Brands as favorable following Friday's post-earnings selloff. After spending "significant time" understanding the reasons behind the shortfall this quarter, the analyst is convinced that these issues are transitory and not structural. The business should return to its normalized earnings/cash power in fiscal 2019, Alwy tells investors in a research note. He believes, however, that management has to build credibility over the next few quarters. The analyst lowered his price target for Spectrum shares to $86 from $125 and keeps a Buy rating on the name.
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