Morgan Stanley analyst Dara Mohsenian has maintained their bullish stance on CL stock, giving a Buy rating on August 1.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Dara Mohsenian has given his Buy rating due to a combination of factors that highlight Colgate-Palmolive’s potential for growth and stability. The company reported a slight upside in its second-quarter earnings per share, which was above consensus expectations, indicating a positive financial performance. Despite maintaining its full-year earnings guidance, Colgate-Palmolive is taking strategic steps to support its long-term goals by announcing a new restructuring program aimed at optimizing its global supply chain and reducing overhead costs.
Additionally, the company plans to invest in innovation and technology, including data analytics and artificial intelligence, to enhance its operational efficiency and drive demand. Although organic sales growth has been adjusted to the lower end of the previous range, foreign exchange factors are expected to offset this impact. Overall, the combination of stable financial results, strategic restructuring, and investment in future growth initiatives supports the Buy rating for Colgate-Palmolive.
In another report released on August 1, Citi also maintained a Buy rating on the stock with a $105.00 price target.