Spectrum Brands price target raised to $114 from $100 at RBC Capital

RBC Capital raised the firm’s price target on Spectrum Brands to $114 from $100 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company’s strong sales in Controls were driven by favorable weather trends and offset continued softness in Appliances and Aquatics, the analyst tells investors in a research note. Spectrum Brands’ profitability continues to strengthen thanks to ongoing productivity investments, the firm added.