JPMorgan Upgrades Energizer to Neutral After Q4 Beat

JPMorgan analysts upgraded Energizer (NYSE:ENR) from Underweight to Neutral and raised the price target to $39 from $32, following the company’s Q4 beat yesterday. The analysts cited a more stable outlook for the company’s top-line and bottom-line performance.

Energizer’s revenue momentum has accelerated, driven by volume growth and expanded shelf space. This improvement has been partially attributed to increased demand following recent storms, contributing approximately a 30 basis point boost. Additionally, the company has redirected savings from its Project Momentum initiative into advertising and promotions, returning to historical investment levels to further support volume growth.

The updated outlook follows Energizer’s fiscal fourth-quarter earnings report and subsequent discussions with the company’s leadership, including CEO Mark LaVigne, CFO John Drabik, and Treasurer Jon Poldan. With these adjustments, the company appears positioned for steadier growth, warranting the revised Neutral rating.