UPDATE: Citi Upgrades Church & Dwight Co. Inc. (CHD) to Neutral

(updated reco, current reco and comment)

Citi upgraded Church & Dwight Co. Inc. (NYSE: CHD) from Sell to Neutral with a price target of $71.00.

The analyst comments "We are lowering our 55% target premium for the stock to 50%, given the lack of near-term upside to our 2019 EPS estimate (as per mgmt’s guidance offered today). Given (i) the now-higher ~17.5x market multiple based upon the Street’s forecast for S&P 500 2020 EPS, (ii) our target for CHD to trade at a 50% premium to the market and (iii) our 2020 adjusted EPS estimate of $2.70, we derive a target price of $71 (unchanged). With an ETR of 3%, we upgrade from Sell to Neutral."

For an analyst ratings summary and ratings history on Church & Dwight Co. Inc. click here. For more ratings news on Church & Dwight Co. Inc. click here.

Shares of Church & Dwight Co. Inc. closed at $69.94 yesterday.

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