As previously reported, SunTrust analyst William Chappell upgraded Edgewell Personal Care to Buy from Hold and raised his price target to $40 from $35. The analyst maintains his view that the company's $1.4B deal to acquire Harry's "makes sense" even though the stock price fell 16% when the acquisition was announced in May, as it "immediately returns" Edgewell to prominence in the US wet shave category, adding that the opportunity toward gains in market share and profitability offsets the deal's near term risks. Chappell adds that the current valuation on the shares is too low, with upside catalysts that include a stabilizing legacy business in Q3 and a potential divestitures of the company's Infant and Feminine Care assets.