Mixed Analyst Views on Newell Brands (NWL)

Newell Brands Inc. (NASDAQ:NWL) is one of the 10 Best US Penny Stocks to Buy. On December 3, Canaccord Genuity reiterated its Buy rating on Newell Brands Inc. (NASDAQ:NWL) with a price target of $7. This update comes after investor meetings with the company’s management team in Boston.

Canaccord Genuity pointed out that the company’s management, including CEO Christopher Peterson and CFO Mark Erceg, showed confidence despite a difficult year. Newell Brands Inc. (NASDAQ:NWL) is pleased with the progress of its turnaround strategy, which has been underway for about two and a half years.

Newell Brands Inc. (NASDAQ:NWL) has announced a workforce reduction of around 10% of its professional and clerical employees. The company will also close about 20 Yankee Candle stores in the US and Canada. Newell Brands Inc. (NASDAQ:NWL) expects this productivity plan to deliver annualized pre-tax cost savings of about $110 million to $130 million when it is fully implemented.

Canaccord Genuity expects 2026 to be the first year of net distribution gains for the company since its acquisition of Jarden, which was completed nearly a decade ago. This suggests that the company’s turnaround efforts may be starting to show results.

However, on December 2, UBS reduced its price target on Newell Brands Inc. (NASDAQ:NWL) from $5.50 to $4.00. The research firm pointed out that investors are expected to remain cautious and take a “wait and see” approach until there is clearer evidence that the company’s performance is starting to materialize.

Newell Brands Inc. (NASDAQ:NWL) is an American consumer goods company with a strong portfolio of brands such as Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex, and Campingaz.

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Disclosure: None. This article is originally published at Insider Monkey.