This Colgate-Palmolive Analyst Is Turning Bullish On Heels Of CBD, Dental Pain Study
Portfolio Pulse from Priya Nigam
Colgate-Palmolive Company (NYSE:CL) shares are in focus following a study indicating CBD's safety for dental pain management, potentially boosting organic sales growth to 4.5% in fiscal 2024. BofA Securities analyst Bryan Spillane upgraded the stock from Neutral to Buy and increased the price target from $75 to $90, citing expected growth above long-term targets, positive US volume and market share, growth in emerging markets, and margin expansion. CL shares rose 0.27% to $76.48.
December 15, 2023 | 5:13 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Colgate-Palmolive's stock has been upgraded by BofA Securities from Neutral to Buy with a price target increase from $75 to $90, following a positive study on CBD for dental pain and expected higher organic sales growth.
The upgrade by BofA Securities is a strong positive signal for investors, suggesting confidence in Colgate-Palmolive's growth prospects, especially with the new CBD dental pain study. The raised price target reflects an anticipated increase in the stock's value, which is likely to influence investor sentiment and potentially drive short-term price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100