UPDATE: UBS Upgrades Edgewell Personal Care (EPC) to Neutral

UBS upgraded Edgewell Personal Care (NYSE: EPC) from Sell to Neutral with a price target of $90. Analyst Stephen Powers thinks the stock's price now reflects fundamentals.

"Though our view on EPC's fundamentals remains unchanged (i.e., likely to be lackluster in the near term), a correction in EPC's share price alongside consensus estimates that have now fallen more in line with (even below) our own lead us to upgrade EPC to Neutral from Sell. We now believe EPC's share price better reflects its operating realities and a more realistic acquisition premium, leaving less room for material downside. In the time since the EPC/new ENR split on 7/1, EPC's share price has fallen -17% (-10% on a relative basis), as investor expectations have reset lower on the back of a weak Q4:15 guide and doubts as to whether EPC can deliver profitable growth in FY16/17," said the analyst.

For an analyst ratings summary and ratings history on Edgewell Personal Care click here. For more ratings news on Edgewell Personal Care click here.

Shares of Edgewell Personal Care closed at $83.27 yesterday.

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