UPDATE - UBS Downgraded Energizer (ENR) to Neutral; Concerned on the Margin
Get Alerts ENR Hot Sheet
Price: $29.44 +1.13%
Rating Summary:
6 Buy, 14 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
6 Buy, 14 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CLSA Downgrades SF Holding Co Ltd (002352:CH) to Outperform (2)
- HSBC Downgrades Bank of America (BAC) to Hold
- BofA Securities Downgrades Albany International (AIN) to Underperform
Create E-mail Alert Related Categories
DowngradesRelated 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!