Standpoint Research Downgrades Energizer (ENR) to Hold
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Price: $22.50 +4.21%
Rating Summary:
6 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 7 | New: 31
Rating Summary:
6 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 7 | New: 31
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Standpoint Research downgraded Energizer (NYSE: ENR) from Buy to Hold.
The firm states, "ENR was a defensive name from the consumer staples sector that we added to our portfolio of open recommendations when the S&P hit 1300 in order to hedge our high-beta recommendations. We can no longer leave our highest recommendation attached to this name with the stock + 1500 bps for us versus the S&P. Our price target on ENR remains $85-$90 for 2012-2013. The shares remain undervalued, but may struggle to out-perform the S&P further (going forward) if the market rebounds. The shares have jumped 10% this week and we want to lock this in along with the gain versus the S&P since early June.
For more ratings news on Energizer click here and for the rating history of Energizer click here.
Shares of Energizer closed at $73.63 yesterday.
The firm states, "ENR was a defensive name from the consumer staples sector that we added to our portfolio of open recommendations when the S&P hit 1300 in order to hedge our high-beta recommendations. We can no longer leave our highest recommendation attached to this name with the stock + 1500 bps for us versus the S&P. Our price target on ENR remains $85-$90 for 2012-2013. The shares remain undervalued, but may struggle to out-perform the S&P further (going forward) if the market rebounds. The shares have jumped 10% this week and we want to lock this in along with the gain versus the S&P since early June.
For more ratings news on Energizer click here and for the rating history of Energizer click here.
Shares of Energizer closed at $73.63 yesterday.
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