BMO Capital Downgrades Church & Dwight (CHD) and Energizer (ENR) to Market Perform, Both Have Met Expectations

Following a run up in shares of Church & Dwight (NYSE: CHD) and Energizer (NYSE: ENR), BMO Capital has cut its valuation rating on both of the companies from Outperform to Market Perform.

The firm states CHD’s business are still solid, but the shares meet the company’s expectations after growing 33 percent during 2011. BMO Capital does note is has become hard to keep a rating on the stock as potential disruptions in its laundry segment have risen with P&G’s (NYSE: PG) Tide Pods.

Shares of ENR are now within 5 percent of BMO Capital’s price target of $83 and rose roughly 6 percent over 2011. The firm continues to worry about push backs due to price increases on batteries in the U.S. and forex. BMO also fears a poor euro as the company receives 15 percent of its total sales from Europe.

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