TD Cowen lowered the firm’s price target on Colgate-Palmolive (CL) to $90 from $100 and keeps a Buy rating on the shares. The firm said 2Q was broadly in line, but management tamped down sales guidance to the lower end of the 2-4% range. In addition, as part of their new 2030 Strategic Plan, they announced a three-year restructuring program to optimize the supply chain and streamline the organization.
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