Truist upgrades Church & Dwight to Buy after post-pandemic reversion

Truist analyst Bill Chappell upgraded Church & Dwight to Buy from Hold with a price target of $105, up from $95. The company’s vitamin business has struggled over the past year with a shrinking category and lost market share, but its cat litter business has remained strong, the analyst tells investors in a research note. The firm believes Church & Dwight’s Q2 results are a sign that the company and its categories “are largely out of the woods from the post-pandemic reversion.” Addition, if the company’s key competitors hold the line on pricing for the remainder of the year, as they have stated, Church & Dwight’s margins and earnings estimates have further upside, says Truist.