Colgate-Palmolive price target lowered to $77 from $80 at Wells Fargo

Wells Fargo lowered the firm’s price target on Colgate-Palmolive (CL) to $77 from $80 and keeps an Underweight rating on the shares. The firm lowers revenue/EBIT offset by below-the-line to hold EPS, trimming its target. Wells’ one-year call on Colgate-Palmolive has basically played out and the air pocket on fundamentals and valuation seems no more. The key debate from here is whether improvement is in-store, the firm adds.