Morgan Stanley Upgrades Energizer Holdings to Overweight

In a note out today, Morgan Stanley raised its rating on battery maker Energizer Holdings

to Overweight with a $91 price target, implying decent upside from where the stock currently trades. "We expect short-term stock upside given our Q1 EPS is 6% above consensus, as we believe consensus is mis-modeling an easy comparison. If we use ENR's Q1 EPS seasonality as a % of FY EPS in the last four years, it implies Q1 EPS of $2.16 even using the low-end of FY guidance (vs. a $1.94 consensus)," the bank said in the note. Shares of Energizer Holdings are up almost 3% today.