Wells Fargo analyst Chris Carey raised the firm’s price target on Colgate-Palmolive to $92 from $90 and keeps an Equal Weight rating on the shares. The firm notes Colgate-Palmolive’s price to earnings went from well below peers to now the highest among mega caps peers, and the “undervalued laggard” dynamic is now firmly gone. There are higher expectations/stakes here, both tactically and to underpin this multiple, Wells adds.
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