Energizer Expected to Benefit From Growing Lithium Batteries Market
Zacks.com submits:
We are upgrading Energizer Holdings, Inc. (ENR) to Neutral from our previous Underperform rating, indicating that it will continue to perform in line with the market. The target price of $66.00 is based on a P/E multiple of 12.5X our 2010 EPS estimate.
Energizer Holdings’ first quarter earnings beat the Zacks Consensus Estimate on higher sales of batteries and razors and increased cost cutting. We also remain upbeat about ENR’s personal care division. The feminine and infant care businesses are still struggling, as both Johnson & Johnson (JNJ) and Gerber Scientific Inc. (GRB) play a significant role in the infant care segment.
Investing, Long Term Investment, stock market | admin March 25, 2010
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