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UPDATE: Jefferies Initiates Coverage on Energizer Holdings as Risk Factors Still Warrant Near-Term Caution

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In a report published Tuesday, Jefferies analyst Kevin Grundy initiated coverage on Energizer Holdings (NYSE: ENR) with a Hold rating and $91.00 price target.

In the report, Jefferies noted, “We are initiating coverage of Energizer with a Hold rating and establishing a 12-month price target of $91. Our SOTPs suggests 4% downside in the shares. Despite consensus estimates moving lower post 3Q and restructuring savings to soften the blow, our bias remains to the downside given competitive pressures, secular headwinds in ENR's household business, and the necessity for greater investment to address anemic top-line trends.”

Energizer Holdings closed on Monday at $94.50.

Latest Ratings for ENR

DateFirmActionFromTo
Jan 2015JefferiesMaintainsBuy
Jan 2015Credit SuisseMaintainsBuy
Jan 2015JefferiesUpgradesHoldBuy

View More Analyst Ratings for ENR
View the Latest Analyst Ratings

Posted-In: Jefferies Kevin GrundyAnalyst Color Initiation Analyst Ratings

 

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