Credit Suisse Upgrades Colgate-Palmolive Company (CL) to Neutral
- Futures dip after S&P 500, Dow hit record closing highs
- Bitcoin (BTC) Price Fell 20% Off the Highs Over the Weekend as Markets Got 'Too Excited' About Coinbase (COIN), Says Mike Novogratz
- UK to Intervene on National Security Grounds on NVIDIA (NVDA) and Arm Deal
- GameStop (GME) announces George Sherman will be stepping down as CEO
- Dollar slumps to 6-week low, Bitcoin steadies after weekend drop
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Credit Suisse analyst Kaumil Gajrawala upgraded Colgate-Palmolive Company (NYSE: CL) from Underperform to Neutral with a price target of $80.00 (from $70.00).
The analyst comments "Increased investments position company well for future growth: Advertising grew 23% from 2018 to ~$2bn in 2020 (up 160bp to 11.8% of sales) supporting relaunches, premium innovation, and expansion into adjacencies. Company has also invested heavily in digital capabilities (including people), enabling it to execute better in e-commerce—were sales are up 50% in 4Q20 and now are double-digit percent of total company."
Shares of Colgate-Palmolive Company closed at $78.06 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Northland Capital Markets Transfers Coverage on Target Hospitality (TH), Upgrades to Outperform
- UPDATE: JPMorgan Upgrades Corning (GLW) to Overweight
- Vista Outdoor (VSTO) PT Raised to 'Street High' $49 at B.Riley Into EPS
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!