Market Overview

UPDATE: Bank of America Downgrades Colgate-Palmolive Company to Neutral on Valuation

Related CL
Earnings Recap For January 29
12 Stocks You Should Be Watching Today
Consider This Strategy To Reduce Stock Market Anxiety (Seeking Alpha)

Bank of America downgraded Colgate-Palmolive Company (NYSE: CL) from Buy to Neutral and raised the price objective from $115.00 to $119.00.

Bank of America noted, "CL is +5% since the announcement of a 32% bolivar devaluation, which CL subsequently said would drive a 20-28c p/s drag to 2013 EPS. CL's performance makes it one of the top Staples stocks over that time frame, and has resulted in 1.5 turns of P/E expansion. We still see CL as one of the top long-term growth stories in large cap HPC, based on high, margin-accretive exposure to fast-growth emerging markets oral care categories. Near-term however, CL has a difficult organic sales growth hurdle to overcome, and valuation is near the top of the peer set at 20.2x our 2013 EPS est."

Colgate-Palmolive Company closed at $114.01 on Monday.

Latest Ratings for CL

Feb 2016B. RileyMaintainsNeutral
Jan 2016Exane BNP ParibasUpgradesNeutralOutperform
Jan 2016Atlantic EquitiesInitiates Coverage onOverweight

View More Analyst Ratings for CL
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Analyst Ratings


Related Articles (CL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters