Newell Brands price target lowered to $7 from $8 at Wells Fargo

Wells Fargo analyst Chris Carey lowered the firm’s price target on Newell Brands to $7 from $8 and keeps an Equal Weight rating on the shares. The firm notes the stock responded negatively to Q4 results and the outlook. In fairness to Newell, underlying trends have been getting better, and there are signs that point to improvement, Wells says. But there’s just little leeway at this leverage and delivery, the firm argues.