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Fly News Breaks for February 5, 2019
HENKY, CHD
Feb 5, 2019 | 19:16 EDT
Goldman Sachs analyst Jason English upgraded Church & Dwight (CHD) to Neutral with a price target of $61 after its Q4 results and the subsequent 7.5% decline in the stock price. The analyst notes that the earnings multiple on the stock has now retraced to its 3- and 5-year averages, adding that while the possibility of further decline is present, he no longer sees sufficient downside to justify a Sell rating. English adds that his bearish thesis on Church & Dwight's vitamin business has played out, but market share struggles of its competitor in the laundry business - Henkel (HENKY) - were not anticipated.
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