UPDATE: Morgan Stanley Upgrades Energizer Holdings to Overweight, Names $117 PT on EPS Upside, Potential Multiple Expansion

In a report published Monday, Morgan Stanley analyst Dara Mohsenian upgraded the rating on Energizer Holdings ENR from Equal-Weight to Overweight, and named a $117.00 price target. In the report, Morgan Stanley noted, “We are Overweight ENR as we believe there is high visibility ENR can beat consensus EPS in FY14/15 given cost savings, EPS accretion from the JNJ feminine care acquisition, and potential share repurchases, which should lead to multiple expansion.” Energizer Holdings closed on Friday at $101.58.