Energizer price target lowered to $33 from $34 at Canaccord

Canaccord analyst Brian McNamara lowered the firm’s price target on Energizer to $33 from $34 and keeps a Hold rating on the shares. The analyst said besides an upside surprise in gross margin, which came in 140 bps above consensus, the results missed across the board as retailer destocking got more aggressive as the quarter progressed.