ENR - Energizer Holdings cut at Citi on valuation

Battery maker Energizer (ENR) was cut to neutral from buy at Citi after a 15% gain this year, hitting Citi's price target.Citi is a bit concerned about "mounting" cost pressure facing the company and the chance the battery category gets more "promotional" due to Energizer's market share gains, according to analyst Wendy Nicholson."We prefer to take a wait-and-see approach with respect to company execution in what could be a more challenging fiscal 2H21," Nicholson wrote.Price target is $51.Recall yesterday, Energizer shares higher on FQ1 earnings beat.

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Energizer Holdings cut at Citi on valuation