Colgate-Palmolive (CL) Gets a Hold Rating from Wells Fargo

By Ryan Adsit

Wells Fargo analyst Bonnie Herzog maintained a Hold rating on Colgate-Palmolive (CLResearch Report) yesterday and set a price target of $57. The company’s shares closed yesterday at $64.68.

Herzog commented:

“We especially enjoyed the surprise performance by JoJo and sneak peek at CL’s Super Bowl ad featuring Luke Wilson. We also spent time in CL’s innovation area and saw firsthand the benefits of CL’s extensive R&D including anti-sensitivity, instant neutralization of odors, incremental enamel protection and new flavors. It also helped us conceptualize the significant marketing and promotional support that the brand will receive and as such, we came away feeling better about the potential for success of the Total relaunch. However, we also note that the uptick in spending CL is taking across its entire portfolio to accelerate organic sales growth (we est. +80bps) is also pressuring EPS (which is expected to be down -MSD in FY19).”

According to TipRanks.com, Herzog is a 4-star analyst with an average return of 5.5% and a 63.0% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Colgate-Palmolive with a $63.56 average price target, implying a -1.7% downside from current levels. In a report issued on January 25, Jefferies also maintained a Hold rating on the stock with a $61 price target.

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The company has a one-year high of $73.15 and a one-year low of $57.41. Currently, Colgate-Palmolive has an average volume of 5.2M.

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Colgate-Palmolive Co. engages in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care; and Pet Nutrition segments.