Citi Reiterates Buy on Newell Rubbermaid (NWL)

Citi is out with its report today on Newell Rubbermaid NWL, reiterating Buy. In a note to clients, Citi writes, "Given our outlook for continued margin expansion, coupled with expected non-operating benefits from the company's restructuring programs and focus on international expansion, we remain confident in our outlook for NWL to deliver double-digit earnings growth in 2011. With the stock trading at 10x our 2012 EPS estimate, we reiterate our Buy (1M) rating." Citi has a $22 PT on NWL. Shares of NWL closed Tuesday at $19.05, down 0.57% from Monday's close.