As previously reported, Morgan Stanley analyst Dara Mohsenian upgraded Church & Dwight to Equal Weight from Underweight after the stock's 7.5% drop following the company's Q4 EPS miss. He had been worried that C&D's premium valuation reflected an unrealistic market view of a gross margin recovery, but he now believes the market view of a gross margin recovery is "more skeptical." While he views the Q4 miss as disappointing, he tends to view it more as an aberration, Mohsenian added. He also views C&D's 2019 guidance as slightly conservative, the analyst noted. He keeps a $60 price target on Church & Dwight shares.