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Fly News Breaks for February 10, 2020
EPC
Feb 10, 2020 | 20:42 EDT
Citi analyst Wendy Nicholson downgraded Edgewell Personal Care to Neutral from Buy but raised her price target to $43, up from $38. The analyst notes that while the cancelled merger with Harry's avoids the risk of a culture clash and reduces leverage, she still believes that the deal would have been a "real positive" for the company by boosting its presence in the DTC market and bringing it a growing brand that could have extended its product to other categories. Nicholson adds that with the deal cancelled, she questions how Edgewell Personal Care will be able to generate stronger and more sustainable organic sales growth.
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