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Colgate-Palmolive Upgraded to “Buy” at Bank of America (CL)

Consumer products maker Colgate-Palmolive Company ( CL ) on Thursday saw its rating and price target boosted by analysts at Bank of America.

The firm said it upgraded CL from "Neutral" to "Buy" while lifting its price target from $90 to $100. That new target suggests a 9% upside to the stock's Wednesday closing price of $91.39.

Last week, analysts at Morgan Stanley made a similar move , boosting their own price target on CL.

Colgate-Palmolive shares were unchanged in premarket trading Thursday.

The Bottom Line

Shares of Colgate-Palmolive ( CL ) have a 2.54% dividend yield, based on last night's closing stock price of $91.39. The stock has technical support in the $86-$88 price area. If the stock can firm up, we see overhead resistance around the all-time highs of $92 a share.

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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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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