Morgan Stanley lowers the target on Newell Brands (NWL:NSD) to $14.50

Newell Brands Inc.

Newell Brands Inc Stock Forecast:

According to 13 analysts, the average target price for Newell Brands Inc over the next 12 months is USD 16.36. The average analyst rating for the stock is Hold. Stock Target Advisor‘s analysis is Slightly Bearish based on 3 positive signals and 7 negative signals. The stock price of Newell Brands Inc at the last closing was USD 12.15, with a change of -0.65% over the past week, +0.91% over the past month, and -47.52% over the last year.

Analysts Coverage Change:

Morgan Stanley & Co maintains Newell Brands Inc. (NWL:NSD) with an “Equal-Weight) rating and lowers the price target to $14.50 from $16 on the company’s stock.

Newell Brands News:

Newell Brands Inc, the company that produces Sharpie markers, has forecasted annual sales and profit at the low end of its previous outlook. The announcement indicates that the company is facing challenges from the softer demand for its products and higher costs. While the supply chain issues are gradually easing, the Atlanta-based firm is still struggling with the elevated costs of raw materials, as well as slowing demand for its home and outdoor products such as containers and camping gear, following a pandemic-induced boom.

Newell’s projections for 2023 net sales and adjusted profit are expected to be at the lower end of its prior range of $8.4 billion to $8.6 billion and $0.95 to $1.08 per share, respectively. Additionally, the company forecasts second-quarter results below analysts’ estimates, with sales between $2.13 billion and $2.24 billion and profit between 10 cents and 18 cents per share. This is in contrast to analysts’ expectations of revenue of $2.2 billion and profit of 38 cents per share.

The challenges faced by Newell Brands are reflective of the wider struggles experienced by companies globally due to the ongoing pandemic. Supply chain disruptions, higher raw material costs, and softening demand have all impacted businesses across various sectors. The rise of e-commerce and changing consumer preferences are also playing a role in shaping the industry landscape.

NWL Ratings by Stock Target Advisor

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