In a report released yesterday, Brian McNamara from Canaccord Genuity maintained a Hold rating on Energizer Holdings (ENR – Research Report), with a price target of $36.00.
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Brian McNamara has given his Hold rating due to a combination of factors surrounding Energizer Holdings’ recent performance and future outlook. The company posted better-than-expected organic sales growth in the first quarter, driven in part by unforeseen hurricane-related sales. However, the guidance for the second quarter did not meet expectations, leading to a cautious stance.
Energizer’s profitability metrics slightly surpassed market consensus, with adjusted EBITDA and EPS showing modest improvements. Despite this, the gross margin faced pressure due to planned pricing and promotional investments, along with the impact of a stronger U.S. dollar. Although there were positive signs such as distribution gains and successful new product launches, these were not enough to prompt a rating upgrade, resulting in a maintained Hold rating and a price target of $36.
In another report released today, RBC Capital also maintained a Hold rating on the stock with a $38.00 price target.