Consumer products maker Newell Rubbermaid Inc. (NWL) on Monday received some bullish commentary from analysts at Bank of America/Merrill Lynch.
The firm added NWL to its prestigious “US1″ list, identifying the stock as one of its top picks among U.S.-based companies. Bank of America/Merrill Lynch also set a $24 price target on NWL, suggesting a solid 22% upside to the stock’s Friday closing price of $19.75.
The analyst justified its bullish view by noting it believes NWL’s cash flow story is under-appreciated by the markets.
Newell Rubbermaid shares, which have risen 22% year-to-date, were mostly flat in premarket trading Monday.
The Bottom Line
Shares of Newell Rubbermaid (NWL) have a 2.03% dividend yield, based on Friday’s closing stock price of $19.75. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $20-$23 price levels.
Newell Rubbermaid Inc. (NWL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.