02:20 PM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our unchanged 12-month target of $8 is 12.5x our 2024 EPS view of $.061 (down $0.02; 2025's cut $0.10 to $0.80), a premium to the five-year forward P/E average of 12x, which we believe reflects NWL's recent business realignment initiatives. Q1 adj-EPS of $0.00 (vs. -$0.06) beat by $0.07 on revenue of $1.65B (-8.4% Y/Y), 1% above consensus. Core sales were -4.7% vs. Q4's 9.3% and benefited from new distribution, growth in businesses, and pricing. Outdoor and Recreation declines accelerated, but NWL remains positive on long-term opportunities. Adj-gross margin of 31.2% (+410 bps Y/Y) benefited from productivity, mix, and pricing, allowing advertising and promotion reinvestment (+100 bps). EBIT margin was +220 bps to 4.6%, nearly doubling from 2.4%. Notably, margins and working capital led to cash from operations of $32M, in a quarter that is typically a cash burn. NWL retains its guide, citing a cautious consumer. We think a turn around is as priced in as it can be in this discretionary business given the macro.