Church & Dwight Co. ( NYSE: CHD ) was added back to Oppenheimer's top picks list after impressing with the analyst day presentation last week.
Analyst Rupesh Parikh and team said the bar is now reset for 2023, which had represented a concern for the firm. CHD management is noted to be more confident on the oulook and expressed a clear pivot away from the Flawless brand. CHD also explicitly highlighted a desire for M&A in fast-moving consumable brands more in line with the household product seller's sweet spot after success with the Hero integration. Looking ahead, Church & Dwight ( CHD ) is said to be positioned for a meaningful acceleration in fundamentals in late FY23 and into FY24.
"We believe shares offer both growth and defense and are optimistic the company is on the path to return to its historical algorithm in 2024."
Oppenheimer set a 12-month to 18-month price target of $93 on Outperform-rated Church & Dwight ( CHD ) vs. the 52-week trading range of $70.16 to $105.28.
Read about Church & Dwight's Q4 earnings report.
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Church & Dwight is a top pick at Oppenheimer after analyst day impresses