Deutsche Bank Starts Energizer (ENR) at Buy

Deutsche Bank initiated coverage on Energizer (NYSE: ENR) with a Buy rating and a price target of $45. Analyst Bill Schmitz Jr noted a stable battery environment, capital returns, and M&A.

"By most accounts, battery players are acting like responsible stewards of cash flow in a slow to no growth category, eschewing price wars, lifting pricing and aggressively cutting costs to expand the profit pool despite minimal top-line growth. As they have done historically, sweeping this cash and using the balance sheet to opportunistically repurchase stock, pay a healthy dividend and actively seek accretive deals should continue to drive shareholder value in a low rate environment. While not the sexiest name we follow, slow and steady should still win the race," said Schmitz.

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 $37.61 yesterday.

You May Also Be Interested In

• JPMorgan Downgrades Monster Beverage (MNST) to Neutral, 'Cost Pressures and Weaker Low-end Consumer'
• Meta Platforms Inc. (META) PT Lowered to $570 at RBC Capital
• Compass Minerals International (CMP) PT Lowered to $15 at Deutsche Bank