Colgate-Palmolive initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Colgate-Palmolive with a Buy rating and $110 price target. The analyst launched coverage on the household and personal care sector with five Buy rated stocks and one Sell. While these stocks already trade at a premium to peers, TD sees continued outperformance in the near-to-medium term due to their “resonant science-led innovation” and the “latent pricing power” they have accumulated from premiumization and pricing lags relative to food and beverages, the analyst tells investors in a research note. The firm says that after refocusing its global innovation resources on the core business and digitizing its infrastructure, Colgate-Palmolive is now fully leveraging its science-based capabilities in oral care and pet food.