Deutsche Bank Lowers Target on Energizer (ENR); Cites Valuaiton, Possible Buyback and Dividend
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Price: $22.76 +0.40%
Rating Summary:
6 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank Lowers its price target on Buy-rated Energizer (NYSE: ENR) from $88 to $85 saying while sales are soft, valuation is attractive and the company can use its balance sheet to buyback stock and pay a dividend.
The firm comments, "With US battery shares soft and likely to weaken further with WMT shelf space losses, the key to sustained Energizer growth is expanding higher margin personal care business as batteries become a smaller piece of the pie. But battery losses, combined with f/x headwinds and some cost inflation should put pressure on FY12 EPS and we are somewhat cautious about guidance this year. Still, valuation is attractive, even based on lowered numbers, and multiple should expand over time as personal care growth accelerates and company uses balance sheet to repo stock and perhaps pay a dividend."
The firm Q2 EPS form $1.25 to $1.06 and FY12 from $6.10 to $5.95.
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 $74.63 yesterday.
The firm comments, "With US battery shares soft and likely to weaken further with WMT shelf space losses, the key to sustained Energizer growth is expanding higher margin personal care business as batteries become a smaller piece of the pie. But battery losses, combined with f/x headwinds and some cost inflation should put pressure on FY12 EPS and we are somewhat cautious about guidance this year. Still, valuation is attractive, even based on lowered numbers, and multiple should expand over time as personal care growth accelerates and company uses balance sheet to repo stock and perhaps pay a dividend."
The firm Q2 EPS form $1.25 to $1.06 and FY12 from $6.10 to $5.95.
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 $74.63 yesterday.
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