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Fly News Breaks for May 18, 2018
SPB
May 18, 2018 | 07:24 EDT
Oppenheimer analyst Ian Zaffino maintained an Outperform rating on Spectrum Brands after meeting with the company's management, including new CEO David Maura, who emphasized that the majority of the company's ailments have been "self-inflicted." In a research note to investors, Zaffino said Spectrum's order book is strong, production and shipments have improved and guidance appears reasonable, but lowered his price target to $105 from $130 to reflect lower group multiples.
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