TD Cowen analyst Robert Moskow maintained a Buy rating on Colgate-Palmolive today and set a price target of $90.00.
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Robert Moskow has given his Buy rating due to a combination of factors including Colgate-Palmolive’s strategic initiatives and financial outlook. The company has announced a restructuring program as part of its 2030 Strategic Plan aimed at optimizing the supply chain and streamlining operations, which is expected to generate significant savings. These savings are intended to be reinvested in areas such as omni-channel demand generation, AI, data analytics, and innovation, which could drive future growth.
Furthermore, Colgate-Palmolive’s management has expressed a commitment to enhancing their research and development efforts to foster transformational innovation, particularly in emerging markets like China and India. Despite some global slowdowns and challenges in specific regions, the company’s performance in the second quarter was in line with expectations, and certain segments, like Hill’s Pet Nutrition, showed strong growth. These strategic moves and financial performance underpin Moskow’s positive outlook on the stock.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $98.00 price target.