May 29, 2012 at 15:43 PM EDT
Barclays Stays Bullish on Newell Rubbermaid after Analyst Meeting (NWL)

Consumer products maker Newell Rubbermaid Inc. (NWL) on Tuesday caught some continued bullish support from analysts at Barclays Capital.

The firm maintained its “Overweight” rating and $22 price target on NWL following a recent meeting with management. That target suggests a 16% upside to the stock’s Friday closing price of $18.94.

A Barclays analyst commented, “Our biggest takeaway from Newell Rubbermaid’s Analyst Meeting yesterday was the notion that strong free cash flow generation could accelerate delivery of long-term earnings growth objectives. Of course, we also learned a great deal about how the “five ways to win” framework is being uniquely applied to each GBU, covering marketing mix (more digital), innovation, geographic expansion and go-to-market as well has how the new CDO structure is changing the company’s dialogue with its largest & most important retail customers.”

Newell Rubbermaid shares posted modest gains in afternoon trading Tuesday.

The Bottom Line
Shares of Newell Rubbermaid (NWL) have a 2.11% dividend yield, based on Friday’s closing stock price of $18.94. The stock has technical support in the $16 price area. If the shares can firm up, we see overhead resistance around the $20-$21 price levels.

Newell Rubbermaid Inc. (NWL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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