There is an attractive entry point in shares of Church & Dwight – the company behind brands such as Trojan, OxiClean and Arm & Hammer – as the company is likely to bounce back from a recent rough patch, according to Deutsche Bank. Analyst Steve Powers upgraded Church & Dwight to buy from hold, saying he sees the company’s current turmoil as a shot from which the company will recover, rather than a sign that the company is in serious trouble. “We see more upside in the bull case vs. downside in the bear case,” he said in a note to clients on Tuesday. Church & Dwight has been under pressure this year, losing 28.5% as concerns over a potential US recession rumbled the stock along with the broader market. Still, the company has acquired smaller competitors like TheraBreath and Hero as it aims to expand its footprint in home and consumer products. Powers trimmed its price target on the stock by $5 to $85. However, that still implies an upside of around 15% from Tuesday’s close. This target also reflects what Deutsche foresees as a difficult end to the company’s financial year before seeing steady supply chain improvement and discretionary headwinds easing in 2023. There should be improved market share given value, and the increased supply on top of the benefits from new products and distribution expansion, he said. But Church & Dwight will have to contend with continued headwinds from its discretionary portfolio, which Powers described as facing “rapid deterioration.” The company’s new product and acquisition strategy has raised red flags for some, especially since it has previously been criticized for straying too far from its core product base. But Powers said the latest acquisitions are a better fit for Church & Dwight’s portfolio and create smart growth opportunities. — CNBC’s Michael Bloom contributed to this report.