Raymond James upgraded Colgate-Palmolive to Outperform from Market Perform with a $91 price target following the Q4 earnings and the introduction of the company’s 2024 outlook. Colgate-Palmolive’s volume has flattened, raw material pressures excluding currency have abated, and its cost improvements have been material, allowing the company to invest more substantially in advertising and overall brand support, the analyst tells investors in a research note. The firm says Colgate is still in the early innings of improved top- and bottom-line growth.
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