Colgate-Palmolive price target lowered to $85 from $86 at Jefferies

Jefferies lowered the firm’s price target on Colgate-Palmolive (CL) to $85 from $86 and keeps a Hold rating on the shares. Comps get easier, retail inventory levels are in a better place, and valuation has pulled back, but Colgate still has some idiosyncratic risks that keeps the firm on the sidelines for now, the analyst tells investors in a research note. The firm noted that consumer perception of oral care has declined this year, and has not yet inflected positively in terms of value, willingness to participate, or favorability.