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Fly News Breaks for June 11, 2019
CL
Jun 11, 2019 | 08:01 EDT
Argus analyst Chris Graja raised his price target on Colgate-Palmolive to $82 and kept his Buy rating. The analyst cites the company's 2.4% dividend yield exceeding the 10-year Treasury note payout and expects that dividend to continue to increase. Graja also points to Colgate-Palmolive's accelerating organic sales growth in Q1 to 3% from 2% in Q4 driven by the management's more aggressive advertising initiatives, greater e-commerce product availability, and the company's high financial strength rating relative to his coverage universe.
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