Deutsche Bank analyst Steve Powers raised the firm’s price target on Church & Dwight to $91 from $90 and keeps a Buy rating on the shares following Q4 results. The firm notes the company delivered better-than-anticipated Q4 results, and provided generally in-line full year 2023 guidance-thereafter delivering affirmative investor day messaging that underscored a return to evergreen growth in 2024; confidence in achieving pre-pandemic gross margin levels over time; pricing assertiveness with a portfolio well-positioned to gain market share during macro downturns; distribution opportunities across power/acquired brands and international markets; digital acceleration; and a continued commitment to drive marketing behind innovation and improving service levels.
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