Jefferies Upgrades Presitge Brands (PBH) to Hold

Jefferies upgraded Presitge Brands (NYSE: PBH) from Underperform to Hold while maintaining a price target of $30.

Analyst Kevin Grundy said, "Following PBH's -18% under-performance vs. the S&P 500 since 11/6 (-24% YTD), we are upgrading the stock to a Hold rating with valuation of 11.8x CY15 EV/EBITDA (in-line with HPC peers) now more reasonable, in our view. The flu season remains a wildcard, but we see little else near-term to drive the stock materially higher, particularly given fundamental headwinds. With PBH’s risk-reward now more balanced, we move to a Hold rating and maintain our $30 PT."

For an analyst ratings summary and ratings history on Presitge Brands click here. For more ratings news on Presitge Brands click here.

Shares of Presitge Brands closed at $30.80 yesterday.

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