KeyBanc Starts Presitge Brands (PBH) at Overweight

KeyBanc initiated coverage on Presitge Brands (NYSE: PBH) with an Overweight rating and a price target of $60. Analyst Jason Gere highlighted the company's strong need-based OTC brands and cash flow.

"A dominant portfolio of need-based OTC healthcare and household brands, PBH reminds us of former niche category powerhouse Chattem before it was purchased by Sanofi, with similarly attractive features of CHD and CLX. This growth-via-acq story can leverage scale to grow margins and strong cash flow to pay down debt, with favorable category and demographic trends boosting the core. There is some seasonality and household is more challenged, but we see this as a stable, recession-resilient story and are initiating with an OW rating," said Gere.

For an analyst ratings summary and ratings history on Presitge Brands click here. For more ratings news on Presitge Brands click here.

Shares of Presitge Brands closed at $51.28 yesterday.

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