Top Pick Alert: Analyst Hikes Church & Dwight's Price Target, Bullish On Company's Product Portfolio And Track Record

Oppenheimer analyst Rupesh Parikh reiterated an Outperform rating on the shares of Church & Dwight Co Inc CHD and raised the price target from $100 to $107.
The company reported Q1 sales growth of 10.2% to $1.43 billion, beating the consensus of $1.35 billion.
The analyst has lifted FY23 and FY24 EPS estimates to $3.10 and $3.35, respectively, from $3.05 and $3.30 previously.
In the analyst's view, management appears well positioned to deliver more upside than the modeled estimate, but the analyst assumes likely reinvestment consistent with the company's historical practices.
The analyst expects CHD to fully pay down its remaining term loan ($200 million) in 2023 and with no other maturities outside the loan until 2027, management now has even more flexibility on the capital deployment front.
The analyst looks favorably upon CHD's product portfolio, track record of innovation, competitive position, historical success in adjusting to changing retail environments, management team, and consistent record of execution.
The analyst believes shares offer both growth and defense and is optimistic the company is on the path to return to its historical algorithm in 2024.
CHD remains a top pick for the analyst.
Price Action: CHD shares are trading higher by 1.09% at $98.07 on the last check Wednesday.

Momentum74.48

Growth72.81

Quality70.44

Value17.16

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