Wells Fargo analyst Chris Carey raised the firm’s price target on Colgate-Palmolive to $92 from $90 and keeps an Equal Weight rating on the shares. The firm notes Colgate-Palmolive’s price to earnings went from well below peers to now the highest among mega caps peers, and the “undervalued laggard” dynamic is now firmly gone. There are higher expectations/stakes here, both tactically and to underpin this multiple, Wells adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CL:
- CL Earnings: Colgate-Palmolive Brushes Past Q1 Estimates
- Options Volatility and Implied Earnings Moves Today, April 26, 2024
- Colgate-Palmolive reports Q1 base gross profit margin up 310 bps to 60.0%
- Colgate-Palmolive raises FY24 net sales growth view to 2%-5% from 1%-4%
- Colgate-Palmolive reports Q1 base EPS 86c, consensus 76c