Church & Dwight Co Inc logo

CHD - Church & Dwight Co Inc News Story

$88.29 -1.1  -1.3%

Last Trade - 05/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £15.79bn
Enterprise Value £17.21bn
Revenue £3.58bn
Position in Universe 549th / 6846

BUZZ-Church & Dwight slips as JP Morgan cuts to 'underweight'

Tue 10th December, 2019 3:02pm
** Household products maker's shares  CHD.N  fall 2% to
$68.88 as JP Morgan cuts rating to "underweight" from "neutral"
    ** JPM cuts PT to $65 from $74; median PT $72
    ** With slowing top line growth and the narrative of faster
growth vs peers no longer applicable (notably against
"overweight"-rated Procter & Gamble  PG.N ), the historical
premium that investors paid for CHD no longer applies - JPM
    ** CHD took longer than competitors to raise pricing in
2019, which led to some share outperformance earlier in the
year, but is now likely to lead to a decline in volumes that
will likely linger into 2020 - JPM
    ** Next 2 quarters to remain challenging from a volume
perspective, brokerage says as it lowers 2020 earnings estimates
    ** CHD down about 5% this year vs ~22% gain in the S&P 500
consumer staples index  .SPLRCS 

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))
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