10:51 AM EDT, 03/11/2024 (MT Newswires) -- Church & Dwight ( CHD ) is likely poised for "clear" above-consensus and above-peer organic sales growth going forward, as well as "highly visible" near-term sales and earnings upside, Morgan Stanley said Monday.

The consumer-goods company's Q4 organic sales growth was strong and above rivals, the brokerage said in a note. Morgan Stanley projects 5.5% organic sales growth in 2024, which the firm said was likely "conservative," but still ahead of market expectations for 4.6%.

"We continue to expect [Church & Dwight's ( CHD )] OSG to inflect above peers, which started to play out in Q4, and is supported by numerous key topline drivers," Morgan Stanley said. "We see both solid magnitude of EPS upside in 2024, as well as high probability of EPS upside."

The firm increased its price target on the Church & Dwight ( CHD ) stock to $114 from $109 while reiterating its overweight rating.

Price: 104.20, Change: +0.08, Percent Change: +0.08