Wells Fargo analyst Bonnie Herzog maintained a Hold rating on Colgate-Palmolive (CL) today and set a price target of $62. The company’s shares opened today at $66.71.
Herzog wrote:
“We continue to believe that Total will need to succeed in order for CL’s top-line to improve, and CL continues to expect the relaunch (in addition to other initiatives) to result in a step change to its core businesses (creating an inflection point in growth in FY19 and beyond). Encouragingly, mgmt’s tone around the relaunch was upbeat – with share gains coming in the key geographies where Total has hit the shelves. What’s more, mgmt. was very clear that the Total relaunch is also coming in conjunction with substantial price increases (although mgmt. declined to quantify) and stepped- up ad spend. All-in, we’re excited although but continue to think the relaunch raises execution risk given the logistical complexity of CL’s wide/diverse global distribution network.”
According to TipRanks.com, Herzog is a 4-star analyst with an average return of 4.5% and a 61.5% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.
Colgate-Palmolive has an analyst consensus of Moderate Buy, with a price target consensus of $65.09, a -2.4% downside from current levels. In a report issued on February 11, BNP Paribas also upgraded the stock to Hold with a $67 price target.
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Based on Colgate-Palmolive’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.81 billion and net profit of $606 million. In comparison, last year the company earned revenue of $3.89 billion and had a net profit of $323 million.
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Colgate-Palmolive Co. engages in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care; and Pet Nutrition segments.
