Church & Dwight Co. Inc. (CHD) PT Lowered to $112 at Jefferies

Jefferies analyst Kevin Grundy lowered the price target on Church & Dwight Co. Inc. (NYSE: CHD) to $112.00 (from $118.00) while maintaining a Buy rating.

The analyst commented, "We trim our '22-24 EPS ests. 2-3% (commodities) and adj. our PT to $112 ($118 prior), but maintain our (+) LT view post CHD's 1Q / updated FY22 guide (reiterated 3-6% YoY org sales; low-end of 4-8% EPS outlook). Commodities, supply constraints, and a less certain consumer envt. present manageable risks for CHD's strong (and defensive) brand portfolio, particularly as fill rates normalize. Shares attractively valued at 22x EV/'23 ULFCF (< 10% disc. to peers)."

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