Deutsche Bank Upgrades Church & Dwight to “Buy” (CHD)

Deutsche Bank announced on Tuesday that it has upgraded Church & Dwight Co., Inc. (CHD).

The firm has raised its rating on CHD from “Hold” to “Buy,” and has increased the company’s price target from $64 to $66. This price target suggests an 8% upside from the stock’s current price of $60.36.

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Analyst Bill Schmitz commented: “Sustainable growth algorithm of 3-4% organic sales, high single digit EBIT and double-digit EPS growth intact, with upside from fast growing Avid vitamin business joining the base and highly flexible balance sheet enabling further M&A or more aggressive cash flow redeployment providing upside to total shareholder return profile.

“With shares underperforming the group and market over the last year and tempered Street outlook for CY14 versus long-term trend, we see an opportunistic window to own the shares at a reasonable entry point.”

Church & Dwight shares were mostly flat during pre-market trading Tuesday. The stock is up 13% YTD.