Jefferies Raises Price Target on Energizer Holdings (ENR) to $51 Following Solid 4Q
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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."
Shares of Energizer closed at $46.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
- PacWest Bancorp (PACW) PT Raised to $60.50 at FIG Partners Following 4Q Report
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!