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Why Did Jefferies Upgrade Energizer Holdings Inc’s Stock?


Energizer Holdings Inc (NYSE: ENR) received a Buy rating and a $70 price target from Jefferies analyst Kevin Grundy today. The company’s shares opened today at $60.33, close to its 52-week high of $64.

Grundy said:

“Pricing in US batteries has driven ENR’s industry sales growth well above the avg. in HPC/bevs over the latest 52-wks (+3.9% vs. +0.5%). Long thought to be a declining category, improving battery fundamentals should help drive multiple expansion at ENR, which is trading at 10x EV/EBITDA vs. 12.5x peer avg. Recent referral up to Euro Comm. for SPB battery deal does little to change our expectation of a positive outcome. ENR remains our top alpha-generating idea.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 5.0% and a 64.8% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Edgewell Personal Care, and Monster Beverage Corp.

Energizer Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $70.

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The company has a one-year high of $64 and a one-year low of $40.64. Currently, Energizer Holdings Inc has an average volume of 689.3K.

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Energizer Holdings, Inc. manufacturers and markets batteries and lighting products. The company’s products include household batteries, specialty batteries, and portable lighting. Energizer Holdings is headquartered in St. Louis, MO.