Analysts Bump Up Spectrum Brands Price Target Post Q4 Results

• Wells Fargo analyst Chris Carey raised Spectrum Brands Holdings Inc (NYSE: SPB) price target to $122 from $115 and kept an Overweight rating on the shares, implying a 16% upside.

• The analyst believed that Q4 and the fiscal 2022 outlook cleared the bar, the company had catalysts ahead, and the valuation still looked attractive.

• Deutsche Bank analyst Steve Powers raised the price target to $117 from $110 and maintained a Buy rating.

• Powers told investors that the company's fiscal Q4 results and guidance "checked the boxes."

• Oppenheimer analyst Ian Zaffino raised the firm's price target to $125 from $110, suggesting a 19% upside, and kept an Outperform rating on the shares.

• Monness Crespi analyst Jim Chartier raised the firm's price target on Spectrum Brands to $125 from $113 and kept a Buy rating on the shares post the fiscal Q4 results.

• Chartier noted that the company continues to deliver strong results despite ongoing supply challenges. The analyst believes Spectrum remains undervalued at current share levels.

• Price Action: SPB shares are trading higher by 2.17% at $104.95 on the last check Monday.

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