Colgate-Palmolive Company (NYSE:CL) is one of the best defensive stocks to invest in according to analysts. On August 4, Bank of America Securities analyst Peter Galbo reiterated a Buy rating on Colgate-Palmolive, while lowering the price target from $105 to $98. His revised target follows the company’s Q2 results, which broadly met expectations and reflected signs of operational strength.
Organic sales came in line with expectations as they rose by 1.8% in the quarter, while gross margins improved and advertising costs declined, resulting in stronger-than-expected earnings. Adjusted EPS came in ahead of both Bank of America and street estimates, indicating improved cost control and execution.
A supermarket aisle filled with Household and Personal Care Products.
Galbo also pointed to Colgate’s new three-year productivity initiative as a positive development. The program aims to streamline the supply chain and support long-term strategic priorities. While full-year EPS guidance remains unchanged, the company now expects low single-digit net sales growth and sees reduced currency-related pressure compared to earlier forecasts.
Colgate-Palmolive Company sells household and personal products and boasts many well-known brands in oral care, personal care, home care, and pet nutrition.
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This article is originally published at Insider Monkey.
