BofA analyst Bryan Spillane lowered the firm’s price target on Colgate-Palmolive (CL) to $98 from $105 and keeps a Buy rating on the shares. Flowing through the beat in the second quarter, the firm raised its 2025-2027 EPS estimates to $3.70, $3.90 and $4.15, respectively. However, multiple compression across household and personal care has been “pronounced in recent weeks” and the firm’s lower multiple now targets Colgate in line with its target multiple for closest peer Procter & Gamble (PG), the analyst tells investors.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CL:
- Colgate-Palmolive price target lowered to $96 from $104 at Morgan Stanley
- Colgate-Palmolive’s Strong Financial Performance and Strategic Initiatives Justify Buy Rating
- Colgate-Palmolive price target lowered to $83 from $88 at Wells Fargo
- Colgate-Palmolive price target lowered to $105 from $108 at Citi
- Colgate-Palmolive: Strategic Restructuring and Innovation Drive Buy Rating