Oppenheimer Reiterates Outperform On Prestige Brand Shares, $37 PT
In a research report issued today, analyst Joseph Altobello of Oppenheimer reiterated an Outperform rating on Prestige Brand (NYSE:PBH) with a $37 price target.
Altobello commented: “Our recent upbeat meeting with Prestige Brands management bolstered the underpinnings of our bullish stance on the shares. We continue to view the recently completed Insight acquisition favorably, and have been encouraged by the recent improvement in consumption trends amid a handful of headwinds. Further, we believe PBH remains very well positioned to capitalize on further additional M&A opportunities despite what appears to be a lofty leverage ratio.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Altobello has a total average return of 13.9% and a 65.1% success rate. Altobello has a 40.5% average return when recommending PBH, and is ranked #310 out of 3300 analysts.