Oppenheimer Slashes PT on Spectrum Brands Holdings (SPB) to $95 From $105

Spectrum Brands Holdings, Inc. (NYSE:SPB) is one of the best undervalued defensive stocks to buy according to analysts. On August 8, Oppenheimer lowered the firm’s price target on Spectrum Brands Holdings, Inc. (NYSE:SPB) to $95 from $105 while keeping an Outperform rating on the shares.

A person enjoying the convenience of their pet products, that simplify clean-up.

The firm told investors in a research note that Spectrum Brands Holdings, Inc.’s (NYSE:SPB) Q3 EBITDA of $77M compares to its/Street’s $90M/$81M estimates, attributed to softer demand in HPC and GPC and tariff-related supply constraints.

Oppenheimer also stated that while tariffs and reduced inventory considerably affected Q3, the businesses delivered higher sales rates in July.

The firm added that Spectrum Brands Holdings, Inc. (NYSE:SPB) had mostly removed tariff exposure by the end of Q3 with initial rounds of pricing and supplier concessions.

Spectrum Brands Holdings, Inc. (NYSE:SPB) is a global manufacturer of branded home essentials and consumer products. The company manufactures, sells, and markets its products across Europe, the Middle East and Africa, North America, Latin America, and the Asia-Pacific regions.

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