Canaccord Genuity Downgrades Spectrum Brands Holdings to Hold, Raises Price Target to $86
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Brian McNamara downgraded Spectrum Brands Holdings (NYSE:SPB) from Buy to Hold, while raising the price target from $83 to $86.
February 09, 2024 | 10:49 am
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Spectrum Brands Holdings was downgraded from Buy to Hold by Canaccord Genuity, but the price target was increased from $83 to $86.
The downgrade to Hold suggests a neutral outlook on the stock's short-term price movement, indicating that the analyst sees limited upside potential from current levels. However, the increase in the price target to $86 implies a positive view on the company's fundamentals or future prospects. This mixed signal could lead to short-term price stability as investors reassess the stock's valuation and future growth prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100