Morgan Stanley raised the firm’s price target on Colgate-Palmolive to $93 from $85 and keeps an Overweight rating on the shares. The firm views the company’s Q4 results as “an important confirmation point” that Colgate-Palmolive’s topline growth is poised to inflect compared to peers, the analyst tells investors in a research note. The firm, which also sees 2024 guidance for mid-to-high single digit EPS growth as “clearly too low,” reiterates the stock as its Top Pick in the consumer packaged goods group.
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