Edgewell Personal Care (EPC) Numbers Cut at Jefferies on Harry's Target Roll-Out (PG)
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Jefferies analyst Kevin Grundy cut estimates and his price target on Edgewell Personal Care (NYSE: EPC) to $75 following Harry's national roll-out at Target. The firm maintained a Hold rating. He sees the roll-out as presenting risk for Procter & Gamble (NYSE: PG) as well.
Grundy commented, "We are trimming our Street-low EPS est./PT for EPC following Harry's national roll-out at Target, which presents risk to P&G, as well. It is also likely to be the first shoe to drop with further retail roll-outs and/or DSC (under ULVR) possibly to follow. Our store checks found effective merchandizing/packaging for Harry's and strong shelf space allotted. Lowering our EPS est. by 2% for EPC (PT to $75), while leaving our est./PT for P&G unchanged."
Shares of Edgewell Personal Care closed at $78.23 yesterday.
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