Newell Brands (NASDAQ:NWL) news for Monday about an upgrade from SunTrust has NWL stock up.
The Newell Brands news has SunTrust taking the stock and increasing its rating for it from the previous “Hold” to the current “Buy”. The reason given for this upgrade is that SunTrust believes that there is potential for a NWL turnaround in the near future.
The Newell Brands news doesn’t stop at just a new rating for NWL stock. It also includes a new price target of $25. That’s a massive 66.67% increase over the previous price target of $15 from SunTrust for NWL stock, reports CNBC.
That new NWL price target from SunTrust has it taking a bullish stance on the stock. NWL’s closing price on Friday was $18.20. That means that this new price target is sitting at 37.36% above that price.
Newell Brands last reported earnings on Aug. 2, 2019. The company’s earnings per share and revenue came in at 45 cents and $2.12 billion. These were mixed results for NWL with EPS beating Wall Street’s estimates, but revenue coming in just shy of expectations. However, the results were well received by investors at the time and it resulted in NWL stock climbing higher.
NWL stock was up 2.85% when the markets closed on Monday. The stock is largely unmoved in after-hours trading.
As of this writing, William White did not hold a position in any of the aforementioned securities.