Credit Suisse Upgrades Colgate-Palmolive Company (CL) to Neutral

February 1, 2021 6:15 AM EST
Get Alerts CL Hot Sheet
Price: $80.16 +0.48%

Rating Summary:
    10 Buy, 15 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 18 | New: 47
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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."

For an analyst ratings summary and ratings history on Colgate-Palmolive Company click here. For more ratings news on Colgate-Palmolive Company click here.

Shares of Colgate-Palmolive Company closed at $78.06 yesterday.

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