Jefferies downgraded Colgate-Palmolive to Hold from Buy with a price target of $95, down from $103. The analyst sees more scope for downside versus upside for the shares from here. Elasticities are getting softer in the U.S. and input costs are rising, while pricing will fade over the next 12 months, the analyst tells investors in a research note. The firm believes this poses risk to market expectations for accelerated sales growth and margin expansion. As such, it sees better opportunities elsewhere in U.S. staples.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
