Piper Sandler initiated coverage of Colgate-Palmolive with an Overweight rating and $121 price target. Colgate is returning to a more normalized growth profile, which is attractive relative to many of its peers, the analyst tells investors in a research note. The firm says the company’s volumes are “holding in well and should continue delivering nice improvement” once we get through the tougher second half of 2024 compares, without the need for heavy promotional activity. This should help to support continued margin progression and good cash generation, contends Piper.
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