Standpoint Research Downgrades Spectrum Brands (SPB) to Hold; Taking Profits

Standpoint Research downgraded Spectrum Brands (NYSE: SPB) from Buy to Hold with a price target of $35.00.

Analyst, Ronnie Moas, said, "SPB shares are + 25.6% since our 31-October recommendation and + 1600 bps versus the S&P-500 even though it is a very low beta name; see line 30 below...We can no longer leave our highest rating attached to this name...our target remains $35 for 2012-2013 that would represent an all-time high...In this downgrade, we are disregarding the news from this past week regarding insider buying at the $29 level."

For an analyst ratings summary and ratings history on Spectrum Brands click here. For more ratings news on Spectrum Brands click here.

Shares of Spectrum Brands closed at $32.13 yesterday.

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