RBC Capital lowered the firm’s price target on Spectrum Brands to $89 from $96 and keeps an Outperform rating on the shares. The company’s Q4 results were in line with expectations, though investor focus falls on the management’s soft guidance for FY24, which reflects an expectation of worsening macro conditions, the analyst tells investors in a research note. This view expresses a degree of conservatism, but it may also be “wise”, the firm added.
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