Jefferies Raises Price Target on Energizer Holdings (ENR) to $51 Following Solid 4Q

November 10, 2016 8:56 AM EST
Get Alerts ENR Hot Sheet
Price: $48.56 +0.50%

Rating Summary:
    8 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies reiterated a Hold rating on Energizer Holdings (NYSE: ENR), and raised the price target to $51.00 (from $50.00), following the company's 4Q earnings report. ENR delivered 3.7% organic sales growth and ~$305M in EBITDA, both ahead of initial guidance of flat to down low single digit % and $275-$295M. 4Q organic sales growth of 1.7% and EBITDA of $76M beat the Street estimates of 0.5% and $67M.

Analyst Kevin Grundy commented, "We maintain our Hold rating for ENR following a solid 4Q and in-line initial FY17 EPS guidance. Stable battery industry pricing and recent share gains are expected to keep organic sales trends in positive territory as mgmt. integrates HandStands and pursues add'l M&A. Valuation looks fair at 15x EV/ULFCF with NWL/SPB (trading at 16.5x/17.5x vs. staples 22x) our preferred value names. Adj. FY17-19 est. on guidance/FX - PT to $51."

For an analyst ratings summary and ratings history on Energizer click here. For more ratings news on Energizer click here.

Shares of Energizer closed at $46.23 yesterday.

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