Jefferies Raises Price Target on Edgewell Personal Care Company (EPC) Following Strong 4Q and Guidance
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Jefferies reiterated a Hold rating on Edgewell Personal Care Company (NYSE: EPC), and raised the price target to $79.00 (from $75.00), following the company's 4Q earnings report. EPC delivered a solid 4Q topline, including organic sales of +9.2%, compared to the Street's +3.2% estimate. EPC's initial FY17 outlook calls for EPS of $3.80-$4.00, ~6% above Street estimates.
Analyst Kevin Grundy commented, "We are raising our FY17-18 EBITDA est. by 4-6% following EPC's strong 4Q and better than expected FY17 EPS guidance. Mgmt.'s emphasis on cost-cutting (ZBS) is appropriate and provides a source for investment, while competitive pressures remain intense, particularly in wet shave. Stock upside looks limited following today's bounce, particularly as "takeout story" rightfully moves to the back-burner (at least for now). Hold, PT to $79."
Shares of Edgewell Personal Care closed at $79.53 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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