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SPB

Spectrum Brands

$47.26

-2.215 (-4.48%)

, JEF

Jefferies Financial Group

$18.13

0.065 (0.36%)

08:44
10/15/19
10/15
08:44
10/15/19
08:44

Deutsche places 'Catalyst Call' buy on Spectrum Brands after selloff

Since the September 16 announcement that Jefferies Financial Group (JEF) will distribute Spectrum Brands (SPB) stock to its shareholders as a special dividend, shares of Spectrum have traded down from $60 to $48, Deutsche Bank analyst Faiza Alwy tells investors in a research note. The analyst views the selloff as a "short-term dislocation" and believes Spectrum has sufficient flexibility to buy back stock, which should help remove "this technical overhang." As a result, Alwy placed a "Catalyst Call" buy on Spectrum Brand as a short-term investment idea. The analyst, however, keeps a long-term fundamental Hold rating on the shares.

SPB

Spectrum Brands

$47.26

-2.215 (-4.48%)

JEF

Jefferies Financial Group

$18.13

0.065 (0.36%)

  • 15

    Oct

  • 16

    Oct

  • 12

    Nov

  • 13

    Nov

SPB Spectrum Brands
$47.26

-2.215 (-4.48%)

01/18/19
BOFA
01/18/19
UPGRADE
Target $65
BOFA
Buy
Spectrum Brands upgraded to Buy from Neutral at BofA/Merrill
BofA Merrill Lynch analyst Olivia Tong upgraded Spectrum Brands (SPB) to Buy from Neutral and raised her price target on the shares to $65 from $50, stating that she sees the company "on steadier footing" to start 2019 after closing the divestiture of its battery and auto care businesses to Energizer (ENR) and collapsing its HRG ownership. While she said she does not expect an immediate turnaround this quarter, Tong thinks the focus can turn back to sales, EPS, and FCF delivery given the company's more focused portfolio and easier comps, she tells investors.
04/01/19
GSCO
04/01/19
UPGRADE
Target $60
GSCO
Conviction Buy
Goldman Sachs upgrades Energizer to Conviction Buy on Spectrum deal synergies
As previously reported, Goldman Sachs analyst Jason English upgraded Energizer (ENR) to Buy from Neutral and added the shares to the firm's America's Conviction List as he sees a credible path to top-tier EBIT, EBITDA and EPS growth over the next three years "fueled almost entirely" by debt-reduction and synergies from its recently completed deals for the Global Battery & Lighting business and Global Auto Care business of Spectrum Brands (SPB). Meanwhile, Energizer's base business "is on its firmest footing in a decade" as battery category growth has improved, competitive dynamics are better and cost inflation has become more accommodative, said English. The analyst adds that he thinks the Spectrum deals "will not mark the end" of Energizer's M&A. He raised his price target on Energizer shares to $60 from $48.
04/08/19
DBAB
04/08/19
NO CHANGE
Target $58
DBAB
Hold
Spectrum Brands price target raised to $58 from $52 at Deutsche Bank
Deutsche Bank analyst Faiza Alwy raised her price target for Spectrum Brands to $58 from $52 saying housing stabilization and favorable weather make her more constructive on the name. The analyst now sees more limited risk of an EBITDA miss in fiscal 2019. She says her two biggest concerns - a decline in the U.S housing market and unfavorable weather - "seem to have been de-risked," at least for fiscal 2019. The U.S. housing market is now expected to remain stable as rates turn lower, and remodeling momentum has remained positive, Alwy tells investors in a research note. She has a Hold rating on Spectrum Brands.
06/19/19
JPMS
06/19/19
DOWNGRADE
Target $36
JPMS
Underweight
JPMorgan downgrades Energizer to Underweight, sees risk to guidance
JPMorgan analyst Andrea Teixeira downgraded Energizer Holdings (ENR) to Underweight from Neutral and lowered her price target for the shares to $36 from $45. Recent Nielsen data points to a "tough" sales outlook for the company, Teixeira tells investors in a research note. While trends for the organic business appear solid, negative sell-through rates have worsened for the acquired battery business, adds the analyst. She notes the latter are now declining at a high-teens rate, which she believes may pressure Energizer's ability to achieve guidance this fiscal year. Further, beyond the downside risk to earnings in 2019, the shares will be further pressured in 2020 by the overhang created by Spectrum Brand's (SPB) ~7.6% ownership of Energizer as the lock-up expires in January 2020, cautions Teixeira.
JEF Jefferies Financial Group
$18.13

0.065 (0.36%)

01/11/19
OPCO
01/11/19
NO CHANGE
Target $30
OPCO
Outperform
Jefferies Financial price target cut to $30 from $32 at Oppenheimer
Oppenheimer analyst Chris Kotowski maintained an Outperform rating on Jefferies Financial but lowered his price target to $30 from $32. In a research note to investors, Kotowski says he retains his bullish stance on the shares despite the company's weaker Q4 earnings "and a lot of moving parts." The analyst contends that "the good news" is not just that Jefferies remained solidly profitable in a "very messy" high-yield environment, but that it completed its share buyback authorization and authorized another $500M of buybacks.
01/25/19
OPCO
01/25/19
NO CHANGE
OPCO
Outperform
Bank stocks still 'resoundingly cheap,' says Oppenheimer
Oppenheimer analyst Chris Kotowski told investors in a research note that one reason he is so "incessantly bullish" on bank stocks is that investors "still so incessantly hate them." The stocks still remain resoundingly cheap at a 63% relative P/E multiple even though bank balance sheets are arguably the best they have ever been, and the business models decidedly less capital-intensive, he contends. He continues to recommend Outperform-rated Bank of America (BAC), CIT (CIT), Citi (C), Goldman (GS), Jefferies (JEF), Morgan Stanley (MS) and U.S. Bancorp (USB).
07/11/19
KBWI
07/11/19
INITIATION
Target $23
KBWI
Market Perform
Jefferies Financial Group assumed with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Michael Brown assumed coverage of Jefferies Financial Group with a Market Perform rating and $23 price target. Despite its simplification actions, the company's business model has retained a high level of complexity and remains highly-cyclical due to its close ties to the health of capital markets, Brown tells investors in a research note. He believes investors need to see consistent results and a clearer path to higher returns before investors give Jefferies full credit for the transformation .

TODAY'S FREE FLY STORIES

NFLX

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TMUS

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WVE

Wave Life Sciences

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Canada agency: Official's email on 737 reflects working-level view, Reuters says »

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CACI

CACI

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  • 03

    Dec

AGO

Assured Guaranty

$48.65

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NFLX

Netflix

$310.48

-1.4 (-0.45%)

, DIS

Disney

$148.25

1.34 (0.91%)

17:33
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DIS

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$148.25

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AAPL

Apple

$261.81

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  • 09

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OYST

Oyster Point Pharma

$14.84

0.64 (4.51%)

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SACH

Sachem Capital

$4.21

(0.00%)

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Sachem Capital co-CEO Villano steps down »

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INTC

Intel

$57.63

-0.61 (-1.05%)

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Intel board member Goetz buys $5.04M in stock »

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SWAV

ShockWave Medical

$38.00

0.18 (0.48%)

17:12
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ShockWave Medical CEO sells 30K shares of common stock »

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SAEX

SAExploration

$2.61

0.16 (6.53%)

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OFG

OFG Bancorp

$20.48

0.17 (0.84%)

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OFG Bancorp buys 40K shares of common stock »

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MO

Altria Group

$49.00

0.17 (0.35%)

, BTI

British American Tobacco

$38.15

-0.21 (-0.55%)

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POTUS in favor of raising minimum vaping age to 21, MarketWatch says »

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MO

Altria Group

$49.00

0.17 (0.35%)

BTI

British American Tobacco

$38.15

-0.21 (-0.55%)

IMBBY

Imperial Brands

$0.00

(0.00%)

PM

Philip Morris

$82.39

-1.08 (-1.29%)

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  • 30

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HIBB

Hibbett Sports

$28.64

3.57 (14.24%)

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  • 22

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MSCI

MSCI

$257.97

2.295 (0.90%)

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CBS

CBS

$39.53

0.54 (1.39%)

, VIA

Viacom

$26.06

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CBS

$39.53

0.54 (1.39%)

VIA

Viacom

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VIAB

Viacom

$23.64

0.38 (1.63%)

ICE

IntercontinentalExchange

$93.70

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NDAQ

Nasdaq

$104.36

-0.31 (-0.30%)

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  • 09

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DIS

Disney

$148.25

1.34 (0.91%)

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BCRH

Blue Capital

$7.00

(0.00%)

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16:30
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Options
Preliminary option volume of 18.4M today »

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STX

Seagate

$59.27

-0.21 (-0.35%)

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AEL

American Equity

$29.12

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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MS

Morgan Stanley

$49.25

0.4 (0.82%)

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  • 03

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TSLA

Tesla

$332.91

-21.91 (-6.18%)

, GPS

Gap

$16.92

0.7 (4.32%)

16:17
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TSLA

Tesla

$332.91

-21.91 (-6.18%)

GPS

Gap

$16.92

0.7 (4.32%)

UBER

Uber

$29.57

0.11 (0.37%)

CVX

Chevron

$118.62

-0.18 (-0.15%)

LB

L Brands

$18.01

0.83 (4.83%)

JWN

Nordstrom

$37.96

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SPLK

Splunk

$140.52

13.72 (10.82%)

PSTG

Pure Storage

$16.85

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FL

Foot Locker

$40.24

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WSM

Williams-Sonoma

$67.44

-1.325 (-1.93%)

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