Colgate-Palmolive Gets a Hold from Jefferies

By Ryan Adsit

Jefferies analyst Kevin Grundy reiterated a Hold rating on Colgate-Palmolive (NYSE: CL) today and set a price target of $78. The company’s shares closed yesterday at $74.07.

Grundy observed:

“We initiate coverage of CL with a Hold rating and $78 PT (+7% TSR). CL is a premier CPG co. with leading brands, strong returns, and an attractive EM footprint. Near-term org sales/EPS growth should remain below CL’s 4-7%/ double-digit LT algo given EM weakness/competitive pressures, though CL’s strategic merit should support the stock.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 4.3% and a 74.2% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Spectrum Brands Holdings, Estee Lauder Companies, and Edgewell Personal Care.

Currently, the analyst consensus on Colgate-Palmolive is Hold and the average price target is $73, representing a -1.4% downside.

In a report issued on April 10, Deutsche Bank also maintained a Hold rating on the stock.

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Colgate-Palmolive Co. engages in the manufacturing and distribution of consumer products. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment provides oral products such as toothpaste and toothbrush, mouthwashes, as well as dental floss and pharmaceutical products for dentists and other oral health professionals; personal care such as liquid hand soap, shower gels, bar soaps, deodorants and antiperspirants, shampoos, and conditioners; and home care solutions that include household cleaners, dishwashing liquids, fabric softeners and other related products. The Pet Nutrition segment is specialized in pet nutrition products for dogs, and cats sold among pet supply retailers, and veterinarians. The company was founded by William Colgate in 1806 and is headquartered in New York, NY.