UPDATE: Deutsche Bank Upgrades Church & Dwight Co. on Good Entry Point
In a report published Tuesday, Deutsche Bank analyst Bill Schmitz Jr. upgraded the rating on Church & Dwight Co. (NYSE: CHD) from Hold to Buy, and raised the price target from $64.00 to $66.00.
In the report, Deutsche Bank noted, “Sustainable growth algorithm of 3-4% organic sales, high single digit EBIT and double-digit EPS growth intact, with upside from fast growing Avid vitamin business joining the base and highly flexible balance sheet enabling further M&A or more aggressive cash flow redeployment providing upside to total shareholder return profile. With shares underperforming the group and market over the last year and tempered Street outlook for CY14 versus long-term trend, we see an opportunistic window to own the shares at a reasonable entry point. Upgrade to Buy, raising price target to $66 (from $64).”
Church & Dwight Co. closed on Monday at $60.36.
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