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Energizer Drummed Lower as J.P. Morgan Downgrades to Underweight, Cuts Target

Rob Daniel

shares were weaker after J.P. Morgan downgraded the St. Louis battery maker to underweight from neutral and cut its December 2019 price target 20% to $36 from $45. Analyst Andrea Teixeira in New York said in a report that she saw a "tough" revenue outlook for Energizer, impeding its ability to meet its earnings guidance. The battery category is "relatively stable" and "should see sustainable growth longer term," Teixeira wrote.