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Fly News Breaks for January 17, 2018
SPB, ENR
Jan 17, 2018 | 09:23 EDT
SunTrust analyst William B. Chappell raised his price target on Energizer (ENR) to $70 following the announcement that the company is buying Spectrum Brands' (SPR) Global Battery and Lighting segment for $2B. The analyst contends that there is upside from the forecast synergy target in the deal, that those synergies can be attained faster than the 3 year outlook, and that anti-trust issues can be avoided as Energizer can present the deal to regulators as an expansion into the private label segment of the market. Chappell keeps his Buy rating on Energizer.
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