BofA upgrades Church & Dwight on growth prospects

Brokerage BofA Global Research upgrades Trojan condom maker Church & Dwight CHD.N to "buy" from "neutral", raises PT to $125 from $112

Shares of CHD rise 1.2% to $106.86 premarket

New PT represents 15.5% upside to the stock's last close

Brokerage says CHD is well-positioned to perform well in a recession due to its value-focused portfolio and limited exposure to private-label competition

Brokerage notes that CHD has a strong track record of outperforming the S&P 500 Index in past recessions, with an average beat of 22%

Brokerage expects co to prioritize volume growth over price increases in a challenging consumer environment

Following increased spending on marketing and capital projects, the company has seen a boost in its market share through 2024, says BofA

Ten out of 26 brokerages rate the stock "buy" or higher, 11 rate "hold", 5 rate "sell" or higher and their median PT is $110 as per data compiled by LSEG

As of last close, CHD stock up 0.83% YTD