Goldman Sachs starts Church & Dwight at Buy

Goldman Sachs initiates coverage on Church & Dwight Co. Inc. (CHD) with a Buy and $73 price target, citing new new product cycle driven acceleration & M&A.

"While we hold a guarded view of our aggregate coverage universe, we see opportunity to generate alpha by investing in CHD ahead of the next leg of its SMID-cap consolidation journey," analyst Jason English said. "CHD's balance sheet is poised for deployment with net-debt/EBITDA back below 0.5X. We believe accretion potential could be meaningful as management pursues its stated M&A strategy."

Shares of Church & Dwight Co. Inc. closed at $65.37 Friday, with a 52-week range of $52.62-$66.28.

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