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Newell Rubbermaid Inc (NYSE: NWL) held it analyst day with the investment community on Tuesday. Yesterday, Newell was getting upgraded across the board.

We began blogging about the merits of Newell's turnaround back in April when the stock was trading at $26, today the stock is around $31, up 19%. Merrill, Smith Barney and Oppenheimer have raised its price targets to $34-to-$35 price range.

In my opinion, the analysts' price targets are too low. Estimates are for Newell to earn $1.95 per share, but Newell will most likely earn over $2.00. Also, as the company exceeds earnings expectations, the P/E investors are willing to pay will go from 18x to 20x. I see Newell's stock price approaching $40 by the end of 2007.

Newell Rubbermaid upgraded across the board originally appeared on BloggingStocks on Thu, 15 Feb 2007 12:54:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>merrill lynchMerrillLynchmlconewellnwlopcooppenheimerprice targetPriceTargetrubbermaidsbshsmith barneySmithBarneyupgradeThu, 15 Feb 2007 12:54:00 EST