Consumer products maker Colgate-Palmolive Company ( CL ) on Thursday caught a big upgrade from analysts at Morgan Stanley.
The firm said it boosted its rating on CL from "Equal-weight" to "Overweight" with a $92 price target. That target suggests a 15% upside to the stock's Wednesday closing price of $80.18.
Morgan Stanley noted it believes CL's earnings are reaching an inflection point, meaning that future quarters will begin to deliver better growth.
Colgate-Palmolive shares fell 44 cents, or -0.5%, in premarket trading Thursday.
The Bottom Line
We have been recommending shares of Colgate-Palmolive ( CL ) since Feb.25, when the stock was trading at $80.18. The company has a 2.89% dividend yield, based on last night's closing stock price of $80.18.
Colgate-Palmolive Company ( CL ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.
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