Citi Adds Energizer to 'Focus List,' Calls Recent Decline in Price 'Overblown'
Shares of Energizer Holdings (NYSE: ENR) have rallied more than 2 percent Thursday following some bullishness from an analyst at Citi. The stock has traded just over a technical level at $96 throughout the afternoon session.
Citi's Wendy Nicholson added shares to the firm's "Focus List." She called recent pessimism in the name "overblown." Energizer shares are down more than 10 percent on a year-to-date basis.
Nicholson noted the Street's apparent concern another shoe could drop following the fourth-quarter miss and weak guidance on Jan. 29th, but suggested "the market is now overly-discounting the bear case for ENR."
The Citi analyst maintains a Buy rating and $120 price target on shares of Energizer.
With the stock last trading at $96.25 Thursday afternoon, Nicholson's price target implies potential upside of about 25 percent.
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