Deutsche Bank Has Hold Rating On Church & Dwight Following Earnings (CHD)

Deutsche Bank has a Hold rating and a $73 price target on shares of Church & Dwight CHD following earnings. In a note to investors, Deutsche Bank writes, "The company is showing resiliency in the face of strong competition and rising commodity costs through a combination of innovation and cost savings as it benefits from barbell consumption trends in most developed markets. However, after years of outperformance, encore is getting tough as competition intensifies and consumers remain cautious. This quarter, the company beat our estimates largely on lower marketing spend and below the line items, while sales came in below our model. Going forward, balance sheet is strong but valuation keeps us on the sidelines. Maintain Hold and $73 target." Shares of CHD are down $1.88 today to $80.12, a loss of 2.3%.