J.P. Morgan Maintains Overweight on Energizer Holdings

J.P. Morgan is out with its report today on Energizer Holdings ENR, maintaining Overweight. In a note to clients, J.P. Morgan writes, "We had a relatively upbeat meeting with Energizer management earlier this week, and came away thinking that ENR is an attractive name in a group where we remain relatively unenthusiastic. We believe that the Hydro investment is paying off, as blade shares continue to rise, and batteries has become more rational. We continue to like ENR here as easy comps coming in 2H calendar 2011 should provide a nice acceleration in EPS growth going forward, with 2H EPS up 21% (all in Q4), after a -21% decline in 1H'11, which should push valuation higher." J.P. Morgan maintains an $84 PT on ENR. Shares of ENR closed Thursday at $71.06, up 0.92% from Wednesday's close.