UBS Reiterates a 'Buy' on Energizer (ENR); Multiple Factors Driving Our EPS Estimates Significantly Higher for 2012
Tweet
Share
E-mailGet Alerts ENR Hot Sheet
Price: $21.47 +2.29%
Rating Summary:
6 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
UBS reiterates a 'Buy' on Energizer (NYSE: ENR), raises price target from $85 to $92.
UBS analyst says, "We believe Energizer's June Q results further supports our positive thesis that management's move to improve transparency/communication with investors is likely to result in a higher multiple. As a reminder, we believe Energizer’s sudden change in its investor facing philosophy is driven by the “Ralcorp Affect.” While ENR has moved +c.10% since early July, we believe a combination of positive EPS revisions and a higher multiple still leaves plenty of room for upside. We recommend investors with a 6-12 month horizon to commit fresh capital to ENR."
"We are raising our overall numbers for FY11 to reflect today's EPS upside, incremental contribution from ASR--slightly offset by weaker results for batteries. More importantly, we are raising our FY2012/13 EPS estimates by 6%/9% to reflect higher accretion from ASR, higher EBIT growth for blades/razors and the benefits of buy backs (we assume ENR purchases 4 mm shares in 2012)." (FY11 EPS estimate from $5.17 to $5.25 and FY12 from $6.27 to $6.62)
For more ratings news on Energizer click here and for the rating history of Energizer click here.
Shares of Energizer closed at $81.65 yesterday.
UBS analyst says, "We believe Energizer's June Q results further supports our positive thesis that management's move to improve transparency/communication with investors is likely to result in a higher multiple. As a reminder, we believe Energizer’s sudden change in its investor facing philosophy is driven by the “Ralcorp Affect.” While ENR has moved +c.10% since early July, we believe a combination of positive EPS revisions and a higher multiple still leaves plenty of room for upside. We recommend investors with a 6-12 month horizon to commit fresh capital to ENR."
"We are raising our overall numbers for FY11 to reflect today's EPS upside, incremental contribution from ASR--slightly offset by weaker results for batteries. More importantly, we are raising our FY2012/13 EPS estimates by 6%/9% to reflect higher accretion from ASR, higher EBIT growth for blades/razors and the benefits of buy backs (we assume ENR purchases 4 mm shares in 2012)." (FY11 EPS estimate from $5.17 to $5.25 and FY12 from $6.27 to $6.62)
For more ratings news on Energizer click here and for the rating history of Energizer click here.
Shares of Energizer closed at $81.65 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
- Revolution (RVMD) PT Raised to $179 at Bernstein SocGen Group
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
UBSSign 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!
