UPDATE: Credit Suisse Raises Target to $90 on Colgate-Palmolive
Credit Suisse maintains its Neutral rating on Colagete-Palmolive (NYSE: CL) and raises its price target by $10 to $90 a share on solid fourth quarter earning.
Credit Suisse says, "Colgate reported solid Q4 earnings and provided a fairly optimistic (although less transparent) outlook for 2012. EPS of $1.30 was in line with consensus and our estimate of $1.30. Organic sales grew a robust 6%, as price increases instituted this summer appear to have largely been accepted by consumers at this point. Cost control was also another bright spot, as SG&A rose only 5% versus our estimate of HSD growth."
CL closed at $91.35 a share yesterday.
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