Church & Dwight (CHD) Back to 'Top Pick' at Oppenheimer
Oppenheimer analyst Rupesh Parikh reiterated an Outperform rating and $73 price target on Church & Dwight Co. Inc. (NYSE: CHD) and reinstated it as a Top Pick following the 7%+ decline in shares on 2/5.
Parikh commented, "Last week, we removed CHD as a top pick, as we were fearful of the potential for a below-plan guide in a high-expectation setup. With the reset now out of the way, we believe investors can again focus on a still attractive outlook for CHD. We continue to feel comfortable with 3%+ organic sales growth and 8% EPS growth with a likely higher quality delivery in 2019 vs. 2018. M&A optionality could represent upside to our base case. CHD pullbacks tend to be less frequent, and we believe the recent weakness should be bought.
Shares of Church & Dwight Co. Inc. closed at $61.25 yesterday.