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Fly News Breaks for February 3, 2020
CL
Feb 3, 2020 | 08:41 EDT
Atlantic Equities analyst Edward Lewis upgraded Colgate-Palmolive to Overweight from Neutral with a price target of $85, up from $72. He is encouraged by the sequential growth improvement over the past five quarters and views the company's 3%-5% organic sales growth guidance for FY20 as a strong sign that the company's new growth strategy is gaining traction. While challenges remain in the U.S., macro conditions remain volatile in Latin America and the impact in China of the coronavirus is uncertain, he thinks investors could be too late to be more constructive if they wait to see these uncertainties resolved, Lewis stated.
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