Analysts Bump Up Spectrum Brands Price Target Post Q4 Results

Wells Fargo analyst Chris Carey raised Spectrum Brands Holdings Inc 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.