Thursday, September 6, 2012

UPDATE: Citigroup Raises PT to $57 on Church & Dwight on Gummy Vitamin ... - Benzinga

Citigroup reiterated its Neutral rating on Church & Dwight (NYSE: CHD) and raised its price target from $54 to $57.

Citigroup noted, "According to CHD, the vitamin and mineral segment is one of the fasting growing CPG segments in the U.S. and represents over $5 billion in sales. Further, while gummy vitamins represent 58% of children vitamins, they only represent 3% of adult vitamins. As Avid launched their adult gummy vitamin segment only in 2008 (and it already represents $100 million in gross sales) and the adult vitamin category is 16 times the size of the children's vitamin category, CHD sees considerable upside in enticing adults to transition from conventional to gummy vitamins."

Church & Dwight closed at $55.75 on Tuesday.

(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Tags: Citigroup

Posted in: Analyst Color, Price Target, Intraday Update, Analyst Ratings

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