The Fly

Colgate-Palmolive price target raised to $87 from $85 at Deutsche Bank

Deutsche Bank analyst Steve Powers raised the firm’s price target on Colgate-Palmolive to $87 from $85 and keeps a Buy rating on the shares. Although data points are "choppy," there have been a number of positive developments for the markets over the past several weeks, including lower than expected inflation in November, the Federal Reserve signaling a move to a more deliberate pace of hikes, and signs of progress away from Zero COVID policy in China, Powers tells investors in a research note. The positive developments are negative for relative returns of defensive assets like U.Sgreater than consumer staples, says the analyst. From here, he expects a "muddled and volatile macro backdrop to continue in the year ahead" and that a "less defensive posture of the market to endure as a base case."

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on CL:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More