Investing.com -- Deutsche Bank has upgraded both Colgate-Palmolive and Celsius Holdings to Buy, arguing in a note on Monday that both companies stand out as attractive opportunities following March’s volatility across consumer packaged goods.

“With macro uncertainty still high, two opportunities to us standout: CL and CELH,” the firm wrote, highlighting what it views as durable strengths in each business.

For Colgate, Deutsche Bank said it sees “a quality and durable core franchise making the right long-term investments behind the company's 2030 Strategy, with ample P&L flexibility to weather current volatility.”

The bank acknowledged ongoing challenges in North America but said these issues are “well understood by the market” and should improve through 2026.

Analysts added that Colgate’s focus on “science-based innovation,” better data and AI capabilities, and stronger omni-channel execution should help close performance gaps over time. Programs such as Funding the Growth and the Strategic Growth and Productivity Program were described as “a material competitive advantage.”

Celsius was also upgraded despite a more than 37% share price decline over the past month.

Deutsche Bank called the pullback “a compelling entry point,” noting the company remains “a still-expanding, profitable, and cash-generative franchise within the high-growth Energy Drink category.”

While acknowledging risks from competitive launches, soft consumption trends and rising aluminum costs, the firm said incremental distribution gains and a more disciplined innovation pipeline should keep top-line performance “more resilient than feared.”

Analysts also pointed to several “idiosyncratic levers for margin expansion,” including benefits from PepsiCo’s distribution system.