NoDerog
Raymond James upgraded Church & Dwight (NYSE:CHD) to market perform from underperform saying that its premium to to household and personal care peers is justified by its value-tier brands along with distribution gains thanks to the acquisitions of Hero and Therabreath.
Analyst Olivia Tong noted that Church & Dwight will likely benefit from the The Clorox Co.’s (CLX) August cyberattack that will have a financial impact. In particular, she cited laundry stain-fighting and cat litter products.
Risks to Raymond James’s optimism for the company are if consumer staples continue to underperform and its valuation premium narrows.
Separately, the firm downgraded consumer housewares company Newell Brands (NASDAQ:NWL) from strong buy to outperform citing a “more muted recovery path” and its fiscal 2023 outlook.
Raymond James cut its price target on the Rubbermaid products maker to $10 from $13 (~43% upside based on Friday close.)
Image and article originally from seekingalpha.com. Read the original article here.