Morgan Stanley Raises PT on Colgate-Palmolive to $101

Morgan Stanley is out with its report today on Colgate-Palmolive (NYSE: CL), raising its PT from $92 to $101.

In its report, Morgan Stanley writes, "We believe Colgate has the most EPS visibility in our coverage, and we expect CL to return to double-digit EPS growth in 2012 and beat consensus EPS. We reiterate our OW rating and raise our price target to $101 from $92, given increased confidence in fundamentals (implies 11x 2012 EV/EBITDA), offering 14% stock upside potential including a 2.6% dividend yield. We expect the stock's outperformance to be driven by a positive inflection in results in H2 and above-consensus results in 2012."

At the time of posting, shares of CL were trading at $87.58, down 1.06% from Friday's close.