Oppenheimer Maintains Perform on Prestige Brands
Oppenheimer is out with its report today on Prestige Brands (NYSE: PBH), maintaining Perform.
In its report, Oppenheimer writes, "We continue to be impressed by PBH's transformation under CEO Matt Mannelly, with an improved portfolio, solid growth among its core OTC brands and likely M&A opportunities. That said, we are maintaining our Perform rating on the shares, as we believe headwinds such as the future return of Children's Tylenol to store shelves and meaningful increases in A&P spending could cause near-term volatility, although long-term investors should consider the name on dips."
Shares of PBH closed Wednesday at $9.82, up 1.34% from Tuesday's close.
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