Energizer upgraded to Neutral from Underweight at JPMorgan

JPMorgan upgraded Energizer (ENR) to Neutral from Underweight with a price target of $39, up from $32. The analyst believes the company is set to have a more consistent sales and earnings performance ahead. Energizer’s “accelerated momentum” for sales is driven by volume growth as the company is gaining shelf space, partially helped by recent storms and by reinvesting some of the “Project Momentum” savings into advertising and promotions to fuel volumes, the analyst tells investors in a research note. The firm cites a better sales outlook for the upgrade.