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BMO Capital Raises Church & Dwight from Market Perform to Outperform, Boosts PT from $65 to $71

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In a research note published Wednesday, BMO upgraded of Church & Dwight (NYSE: CHD) from Market Perform to Outperform and raised the price target from $65 to $71.

Analyst Connie Maneaty outlined a few reasons for the upgrade, citing organic sales growth of 2.3 percent, a raised dividend by 11 percent and the authorization of a $500 million buyback to reduce the share count.

The BMO analyst also highlighted Church & Dwight's unveiling of new 2014 products and described them as the most significant in its history, similar to the launch of premium-priced OxiClean laundry detergent and the extension of stain-fighting OxiClean.

Church & Dwight should generate free cash flows of $1.5 billion over the next three years, which gives it flexibility for M&A, dividend increases, and share repurchases, Maneaty said.

CHD is trading lower by around 0.89 percent to around $63.24 Wednesday.

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
View the Latest Analyst Ratings

Posted-In: News Upgrades Price Target Analyst Ratings

 

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