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UPDATE - UBS Downgraded Energizer (ENR) to Neutral; Concerned on the Margin

April 11, 2011 10:57 AM EDT
Get Alerts ENR Hot Sheet
Price: $29.44 +1.13%

Rating Summary:
    6 Buy, 14 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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UPDATE - UBS downgraded Energizer (NYSE: ENR) from Buy to Neutral. PT lowered by $2 to $76.

UBS analyst says, "Our investment thesis was driven by: 1) expectations for an improving battery pricing environment and 2) a more aggressive stance by management on costs. With the pricing environment in batteries improving and management's unveiling of cost initiatives late last year (which were significantly below our expectations), our thesis seems to have mostly played out...We reduce our FY11 EPS estimate and price target by 3% to reflect higher spending levels for Hydro." (FY11 EPS estimate from $5.51 to $5.33 and FY12 from $6.43 to $6.26)

To see all upgrades/downgrades on shares of ENR, visit our Analyst Ratings page.


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