BMO Capital Starts Spectrum Brands (SPB) at Outperform

BMO Capital initiates coverage on Spectrum Brands (NYSE: SPB) with a Outperform rating and a price target of $147.00.

Analyst Shannon Coyne commented, "We are initiating coverage of Spectrum Brands with an Outperform rating and $147 target price. While we recognize the potential overhang in the stock based on near-term company-specific and external headwinds, we can't ignore the company's 10% free cash flow yield compared with peers at 4-6% and its 30% discount on a price/cash flow basis. Further, we see considerable white space and a portfolio with high barriers to entry that is levered to favorable demographic and macro trends."

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 $121.33 yesterday.

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