RBC Capital analyst Nik Modi lowered the firm’s price target on Newell Brands (NWL) to $4.50 from $8 and keeps a Sector Perform rating on the shares. The company has not faced an easy path to recovery, but Q3 marked one of its more challenging results in recent history, as a culmination of headwinds weighed on performance and evidently overshadowed much of the company’s progress in the eyes of investors, the analyst tells investors in a research note. While RBC continues to believe that Newell is a much better run company than when it started this journey, it is difficult for us to get constructive on the stock when externalities are currently dictating the company’s performance, the firm added.
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