Colgate-Palmolive: Credit Suisse initiates with underperform

(CercleFinance.com) - Credit Suisse initiated coverage of Colgate-Palmolive with an "underperform" rating on Thursday, citing the threat of the arrival of smaller brands on the market.


"Our "underperform" rating reflects market share losses over time and our view that the company's recent earnings rebase may be insufficient or investments may take more time to reverse trends in a changing consumer goods landscape," the broker wrote in a note on the household products and beverages sector.

It has set a target price of 55 dollars for the share.

The New York-based company's shares were trading down 0.7% at 65.2 dollars in early-morning trading on the NYSE. They have still risen by over 10% year-to-date.

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