Deutsche Bank (DB) increased its price target on shares of Colgate-Palmolive Co. (NYSE:CL) to $105 from $103 while maintaining its "Buy" rating.
With top-line growth accelerating off undemanding comparisons and operating leverage and moderating commodities boosting margins with easing foreign exchange headwinds in the back half of the year, underlying fundamentals are solid and should continue to improve.
While relative valuation is extended and sets a high bar for future outperformance, Colgate remains a defensive, oral care category killer in a modestly improving consumption environment with solid innovation tail winds.
Colgate-Palmolive is a consumer products company. The company's products are marketed in over 200 countries and territories worldwide. The company operates in two product segments: Oral, Personal and Home Care; and Pet Nutrition.
CL is trading down 1.29% at $98.19 on Friday.