Oppenheimer Has Outperform On Church & Dwight (CHD)

Oppenheimer & Co. has an Outperform rating and a $88 price target on shares of Church & Dwight CHD. In a note to clients, Oppenheimer writes, "We are raising our price target and estimates for Church & Dwight, owing to indications of improving developed market growth (>90% of CHD's sales) and pricing dynamics in the US laundry detergent category (>20% of CHD's sales) from our discussions with rival P&G, as well as a lower risk profile. Importantly, we are reiterating our Outperform rating on CHD, which remains well positioned to navigate sluggish market growth and commodity cost pressures given its value-oriented portfolio and cost savings opportunities." Shares of CHD lost $1.31 yesterday to close at $79.12, a loss of 1.6%.