BUZZ-Church & Dwight down after TD Cowen downgrades to "hold"

Reuters
06 May
BUZZ-Church & Dwight down after TD Cowen downgrades to "hold"

** Shares of Trojan condom maker Church & Dwight CHD.N down ~1% at $91.97 premarket

** Brokerage TD Cowen downgrades stock to " hold" from "buy", cuts PT to $100 from $117

** Notes co's recent forecast reduction, and a weakening U.S. category growth

** Says co's low international exposure differs it from multinational peers who benefited from a weaker U.S. dollar and relatively higher consumer confidence abroad

** Sees co exiting or shutting down businesses accounting for 2.5% of sales in response to tariff pressures, says co should dispose of its declining vitamin business due to the challenge of keeping pace with fast-moving private competitors

** Average rating of 25 analysts is "hold"; with a median PT of $101

** Up to last close, stock has fallen 11.4% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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