Newell Brands price target lowered to $9 from $12 at Canaccord

Canaccord lowered the firm’s price target on Newell Brands to $9 from $12 and keeps a Buy rating on the shares. The firm noted they issued underwhelming guidance but they continue to believe better days are ahead with new management at the helm and a sensible strategy that we believe will reignite modest top-line growth, improve profitability and cash flows, and reduce leverage.