UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Church & Dwight Co. Strong Organic Growth

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Church & Dwight Co.

, and raised its price target from $57.00 to $60.00. Deutsche Bank noted, “Lapping strong organic growth in its base business, led by laundry, company has to prove it has the innovation pipeline required to hold the multiple and accelerate EPS, with cushion from Avid vitamin acquisition required to maintain low to mid-teens EPS growth. Management has clearly proven its acumen over the last several years and it is hard to argue with its success, but core laundry competition is increasing, perhaps offset by nascent improvement in personal care business. Earnings cushion from outperforming Avid deal is compelling, but we have a tough time getting excited about the shares at these levels, even with solid pipeline. Maintain Hold, raising target to $60 (from $57).” Church & Dwight Co. closed on Tuesday at $59.10.