Spectrum Brands price target raised to $75 from $70 at Wells Fargo

Wells Fargo analyst Chris Carey raised the firm’s price target on Spectrum Brands to $75 from $70 and keeps an Overweight rating on the shares. The firm notes Q1 EBITDA came in better than feared. While expectations for Q2 implies a bigger second half of the year ramp versus prior, a risk, the cost discipline in Q1 should help, Wells says.