UPDATE: BTIG Research Initiates Coverage On Energizer Holdings As Positive Factors Are Already Reflected In Valuation

In a report published Wednesday, BTIG Research analyst April Scee initiated coverage on

with a Neutral rating. In the report, BTIG Research noted, “We believe in the value of the Split & potential for organic growth to accelerate, but margin potential limited post 380bp multiple expansion vs C13 average and due to peak margins, peer benchmarking, & reinvestment needs. No update to margin guidance or organic growth likely near-term as prep for & execution of the Split remains the focus next 12+ months. Too early to get involved, in our view. Initiate with Neutral.” Energizer Holdings closed on Tuesday at $124.52.