Jefferies Remains Bullish on Church & Dwight (CHD) After Meeting with Management
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Jefferies reiterated a Buy rating and $116.00 price target on Church & Dwight Co. Inc. (NYSE: CHD) after meeting with management.
Analyst Kevin Grundy commented, "We continue to recommend CHD's shares following upbeat mgmt. meetings at the co.'s headquarters in Ewing, NJ. Mgmt. sounded positive on underlying trends following a very strong 1H16 (5.4% org sales, ex-SPD), while characterizing the M&A pipeline as "healthy". We believe CHD remains a core holding with high EPS visibility, the best "M&A optionality" in the group, and attractive valuation at 21.7x EV/ULFCF (5% disc. to peers). Reit. Buy, $116 PT."
Shares of Church & Dwight Co. Inc. closed at $100.07 yesterday.
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