Wall Street’s Stance on Colgate-Palmolive Stock

Colgate-Palmolive Stock

Wall Street appears to be bullish on Colgate-Palmolive Company (NYSE:CL) stock. Despite underperforming the broader market over the past year, CL has shown significant growth in 2024, outpacing both the S&P 500 Index and the Consumer Staples Select Sector SPDR Fund (XLP) on a year-to-date basis.

Colgate-Palmolive’s strong performance in 2024 is further bolstered by its Q1 earnings report, where it exceeded Wall Street estimates for both EPS and revenue. Analysts are optimistic about the company’s future, with expectations of a 9.3% growth in EPS for the current fiscal year. Additionally, Colgate-Palmolive has a history of surpassing consensus estimates, having beaten them in each of the last four quarters.

Analysts covering CL stock overwhelmingly rate it as a “Strong Buy,” with some also issuing “Moderate Buy” ratings. This sentiment has become even more bullish in recent months, with a slight increase in the number of analysts suggesting a “Strong Buy.”

Notably, Argus raised Colgate-Palmolive’s price target to $107 and maintained a “Buy” rating, indicating further upside potential. However, Bernstein analyst Callum Elliott maintained a “Hold” rating with a price target of $100.

Overall, the mean price target of $96.65 represents a 2% premium to CL’s current price levels, while the Street-high price target of $105 suggests an upside potential of 10.8%. This positive outlook reflects confidence in Colgate-Palmolive’s market position, product portfolio, and potential for future growth.

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