Merrill/BofA downgrades Energizer (ENR) to Underperform from Buy, lowers target to $59 from $74,...

|About: Energizer Holdings, Inc. (ENR)|By:, SA News Editor

Merrill/BofA downgrades Energizer (ENR) to Underperform from Buy, lowers target to $59 from $74, citing 1) further macro deterioration and related risk of retailer inventory destocking, 2) ENR's 75% run, and 3) ENR no longer trades at a deep discount to rivals. Shares -3.5% premarket.