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Fly News Breaks for September 18, 2018
CL
Sep 18, 2018 | 07:41 EDT
Argus analyst Chris Graja raised his price target on Colgate Palmolive to $75 and kept his Buy rating, saying the company's valuation multiple of 23-times trailing earnings vs. 26.8-times historical average is attractive. The analyst is also raising his 5-year earnings growth forecast for Colgate Palmolive to 7% from 6%, citing its expansion opportunities in the emerging markets. Graja contends that the markets' "rapid population increases, an expanding middle class, and the underutilization of personal care products" position the company to be successful based on its brand recognition and leading market share.
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