.August 27, 2024 4:56 PM

Energizer Holdings (NYSE:ENR) saw a more than 6% increase in shares today after Truist Securities upgraded the stock from Hold to Buy, with a new price target of $40, up from $30. Analysts pointed to investor skepticism towards the battery category and the company’s high leverage ratio as reasons for underperformance compared to peers. However, they anticipate these concerns to diminish as the battery segment experiences organic growth and the U.S. interest rate environment improves, making it a favorable time for investors to consider buying.