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.