Canaccord Genuity Maintains a Buy on Newell Brands (NWL)

Newell Brands Inc. (NASDAQ:NWL) is one of the Best Long-Term Penny Stocks to Buy According to Wall Street Analysts. On March 18, Newell Brands Inc. (NASDAQ:NWL) was reiterated with a Buy rating and a $8 price target by Brian McNamara from Canaccord Genuity.

​The analyst said in a research note that the company’s Snap ‘N Go collapsible hard cooler is a meaningful innovation that sets the company apart by integrating the insulation and durability of a traditional rigid cooler with fold‑down form factor capability. The fold‑down form factor allows it to collapse to around one‑third its size. The analyst also highlighted that the cooler has up to 64 hours of cold retention and dual carry options. He added that this aligns with the way consumers use coolers in real-world settings.

​McNamara added that the product also addresses the shift in outdoor behavior as many customers are moving from long‑haul camping trips to shorter trips. The collapse design also suits customers with smaller cars with tighter storage capacity. The analyst believes that such innovations are rejuvenating Coleman’s brand relevance and broadening its customer base.

​​Newell Brands Inc. (NASDAQ:NWL) is a global consumer goods company that designs, manufactures, sources, and distributes a wide range of products worldwide.

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