Church & Dwight (CHD): Stock Underperformance Ignores Positive Data Points, Raising PT - Jefferies
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Jefferies analyst, Kevin Grundy, reiterated his Buy rating on Church & Dwight Co. Inc. (NYSE: CHD) and raised his price target to $59 from $58. The company's stock price has underperformed despite favorable intra-qtr data points. The analyst believes this presents an attractive entry point ahead of coming upside to CHD's guidance/Street estimates when the company reports 3Q results on 11/3.
The analyst raised his 3Q/FY16 sales estimate to >3%/>4% which leads the FY17-18 EPS estimate ~3% ahead of Street consensus. At 20.6x EV/ULFCF (~10% disc. to staples), fundamental/strategic factors are under-appreciated with premium likely to be restored.
Shares of Church & Dwight Co. Inc. closed at $46.41 yesterday.
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