Jefferies Raises Price Target on Energizer Holdings (ENR) to $51 Following Solid 4Q
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- Jefferies Raises Price Target on Pure Storage, Inc. (PSTG) Following 3Q; Reiterates Hold
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
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!