Rothschild Redburn analyst Edward Lewis upgraded Colgate-Palmolive Company (NYSE: CL) from Neutral to Buy with a price target of $100.00 (from $93.00).

The analyst comments: "Following the outbreak of the US-Iran war, the global Home & Personal Care (HPC) sector has given back all its year-to-date gains. As investors fret over the war’s potential impact on the global economy, we have reviewed how our coverage universe is positioned. Colgate emerges favourably from such analysis given the resilient growth it offers in key divisions (Latin America, Hill’s), its strong track record on driving pricing and productivity savings, and an absolute and relative valuation below multi-year average levels. We upgrade our rating to Buy and raise our price target from $93 to $100."

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Shares of Colgate-Palmolive Company closed at $83.53 yesterday.