In a report released yesterday, Dara Mohsenian from Morgan Stanley upgraded Colgate-Palmolive (CL – Research Report) to a Buy, with a price target of $93.00.
Dara Mohsenian has given his Buy rating due to a combination of factors indicating a positive trajectory for Colgate-Palmolive’s business. The company has displayed a significant improvement in its organic sales growth, showcasing a robust performance that surpasses its peers. This is a reflection of successful strategic changes and an enhanced focus on technological and data capabilities. Additionally, Colgate-Palmolive’s strong growth in the Latin America region, which accounts for a substantial portion of its profits, has added to the firm’s resilience and distinguishes it from other consumer packaged goods competitors facing volatility in that market.
Moreover, Mohsenian underscores Colgate-Palmolive’s promising prospects for both the short and long term. In the short term, the company’s growth outperformance is expected to continue into 2024, driven by its pricing power and significant exposure to emerging markets. These factors are particularly compelling against the backdrop of decelerating North American pricing. Mohsenian’s analysis suggests that Colgate-Palmolive is well-positioned to maintain its lead in organic sales growth, further cementing the company’s competitive edge in the industry.
Mohsenian covers the Consumer Defensive sector, focusing on stocks such as Colgate-Palmolive, Church & Dwight, and Constellation Brands. According to TipRanks, Mohsenian has an average return of 8.8% and a 67.27% success rate on recommended stocks.
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Colgate-Palmolive (CL) Company Description:
Colgate-Palmolive Company is a multinational consumer products name engaged in production and distribution of household, personal care, oral care, health care, and veterinary products. The company sells its products across more than 200 countries and territories. The company’s well known global brands include Colgate, Palmolive, Speed Stick, Lady Speed Stick, Ajax, Softsoap and Hill’s pet Nutrition. It has two operating business segment – Oral, Personal and Home Care, and Pet Nutrition.
Read More on CL:
- Colgate-Palmolive Welcomes Brian Newman to Board of Directors
- Colgate-Palmolive price target raised to $97 from $88 at Argus
- Colgate-Palmolive price target raised to $96 from $85 at Bernstein
- Colgate-Palmolive price target raised to $93 from $85 at Morgan Stanley
- Colgate-Palmolive price target raised to $88 from $80 at Wells Fargo
