Colgate-Palmolive price target raised to $86 from $84 at UBS

UBS raised the firm’s price target on Colgate-Palmolive to $86 from $84 and keeps a Buy rating on the shares. The firm attended a tour of Colgate’s Innovation Center, and says the overall tone of the meeting/tour was constructive, and the firm came away with a deeper appreciation and understanding of how science-backed innovation can drive sustainable organic revenue growth/market share gains across several of the company’s important categories long-term, the analyst tells investors in a research note. Despite some choppiness in recent scanner data, the turnaround in organic revenue growth over the past few years is not simply a function of the broader pricing/operating environment, but rather a function of many of these internal strategies coming to fruition, UBS contends.