RBC Capital analyst Nik Modi kept his Outperform rating and $70 price target on Energizer, saying that the soft scanner trends and lock-up concerns that drove yesterday's 6% decline were not significant and the stock should be "bought on weakness". Following IRI report of declining dollar sales growth, the analyst notes that the management has already acknowledged that its battery sales were challenged due to share declines from shelf space losses, but sees the company as the primary beneficiary of Rayovac's distribution losses. Regarding the Spectrum Brand's (SPB) lock-up expiry in January 2020, the analyst states that investors should watch the stock price, since Spectrum's 5.3M share stake is at a cost basis of $59 and unlikely to be redeemed at current valuation.