Oppenheimer is "even more positive" on the longer-term Church & Dwight bull case following the company’s analyst day and is re-adding to top pick status. A few key positives emerged for the firm, namely the bar being now reset for 2023, management having clearly pivoted away from the Flawless brand and explicitly highlighted a desire for M&A in fast moving consumable brands more in line with Church & Dwight’s sweet spot, setup now positioned for a meaningful acceleration in fundamentals in late 2023 and into 2024, upside earnings delivery potential now existing in 2024, recent M&A performing quite well with Hero driving upside, and tone of management that has much improved compared with its November meeting. Oppenheimer has an Outperform rating on the shares with a price target of $93.
Published first on TheFly
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