Morgan Stanley analyst Dara Mohsenian downgraded Energizer to Underweight from Equal Weight with an unchanged price target of $33. The analyst says the company’s risk factors are not fully priced into the shares post the fiscal Q4 report. The firm sees visibility as lower and topline risk as higher at Energizer than its peers, along with muted long-term growth potential. Energizer has competitive risk given promotion is ramping up in batteries and its isolated battery shelf space losses internationally post pricing that could worsen, the analyst tells investors in a research note.
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