Colgate-Palmolive price target raised to $87 from $81 at Stifel

Stifel raised the firm’s price target on Colgate-Palmolive to $87 from $81 and keeps a Buy rating on the shares. The firm remains cautious on the Americas – household and personal products group, noting volume growth will likely remain muted, though volume declines have likely bottomed out, the analyst tells investors. Stifel anticipates year-over-year global market shares gains in toothpastes and lessening inflation and benefits from pricing should contribute to gross margin expansion in 2024. Overall, the firm continues to view the stock’s risk/reward favorable at current levels, the firm adds.