Bank of America announced on Friday that it had upgraded its recommendation on Colgate-Palmolive shares from 'neutral' to 'buy', with a new price target of $90 and a potential upside of 18%.

In a note, the American investment bank justifies its decision by the inflection point reached by the group's performance in the United States, its solid results in emerging countries and its potential to improve profit margins.

According to BofA, the American FMCG giant is on track to exceed its organic growth target of 3% to 5% next year, as well as market estimates.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.