Newell Brands price target lowered to $9 from $13 at Citi

Citi analyst Filippo Falorni lowered the firm’s price target on Newell Brands to $9 from $13 and keeps a Neutral rating on the shares. While the company’s updated capital allocation strategy is more balanced and many of the changes being made to the business sound positive, Newell’s macro headwinds remain, and its near- to mid-term results will remain pressured and below its long-term algorithm, the analyst tells investors in a research note.