Colgate-Palmolive’s Target, Estimates Lowered at UBS (CL)

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Consumer products giant Colgate-Palmolive Company( CL ) saw its price target and earnings estimates cut on Friday by analysts at UBS.

The firm cut its price target on CL to $84, which still represents an 11% upside to the stock's Thursday closing price of $75.84. UBS also lowered its earnings estimates, citing higher competition from rival Procter & Gamble( PG ) , but maintained its "Buy" rating.

Colgate-Palmolive shares were mostly flat in premarket trading Friday.

The Bottom Line
We had removed shares of CL from our recommended list back on May 14, when the stock was trading at $83.13. The company has a 2.80% dividend yield, based on last night's closing stock price of $75.84. The stock has technical support in the $71-$72 price area. If the shares can firm up, we see overhead resistance around the $80-$81 price levels. We would remain on the sidelines for now.

Colgate-Palmolive Company( CL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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