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Goldman Sachs Sees Church & Dwight Speculation As Opportunity To Exit Shares

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Goldman Sachs Sees Church & Dwight Speculation As Opportunity To Exit Shares
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Shares of Church & Dwight Co., Inc. (NYSE: CHD) are up roughly 3 percent since rumors began to swirl that the company has become a takeover target for either Rickett or Procter & Gamble Co (NYSE: PG). Goldman Sachs sees the boost in Church & Dwight's price as an "opportune exit window" and reiterates its Sell and $81 price target.

Goldman's Jason English sees the the recent rotation of Church & Dwight's leadership as the likely culprit of a reduced probability that the company would be bought out. Compounding English's concern is the "record level share price and valuation" in the face of a fundamental slowdown.

Related Link: Condom Maker Church & Dwight Says It Hasn't Received Any Acquisition Offers

There is also anti-trust concern regarding Proctor & Gamble scenario and English says Rickett is focused on OTC markets, which means "the market is ascribing too high a probability to M&A at this point."

Church & Dwight shares closed Thursday's session up 2.18 percent to $99.09.

Latest Ratings for CHD

DateFirmActionFromTo
Mar 2017JP MorganInitiates Coverage OnNeutral
Dec 2016BMO CapitalInitiates Coverage OnMarket Perform
Nov 2016Wells FargoAssumesMarket Perform

View More Analyst Ratings for CHD
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Posted-In: Goldman Sachs Jason EnglishAnalyst Color News Reiteration M&A After-Hours Center Analyst Ratings

 

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