Colgate-Palmolive Company (CL) Earnings Beat, Estimates Rise - Stifel
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Rating Summary:
18 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Stifel analyst Mark Astrachan reiterated a Hold rating and $83.00 price target on Colgate-Palmolive Company (NYSE: CL) after the company reported reported strong 4Q20 results, continuing a trend of organic sales growth inline or above long-term targets since 1Q19.
The analyst stated "We view global category growth across Colgate’s categories of oral care, personal/household products, and pet food as healthy, likely growing low-to-mid single-digits in 2020, with company results indicating share gains. We think in part this reflects successful innovation and increased marketing spend, driving increased brand awareness and growth in newer channels, like digital. That said, we also view mid-to-high single-digit EPS growth as reasonable and reflective of lessening sales leverage and increasing input costs and advertising spend as a percentage of sales. Our 2021-2022 sales and EPS estimates are largely unchanged. We maintain our Hold rating but see modest upside relative to current levels and also think sector rotation away from staples limits meaningful share price outperformance."
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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