Wells Fargo Upgrades Colgate-Palmolive Company to Equal Weight Rating
August 2, 2022
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Wells Fargo recently upgraded Colgate-Palmolive Company ($NYSE:CL) from an Underweight to an Equal Weight rating. Analyst Chris Carey and team said that while the company’s results have wavered in recent years and margins have been under pressure as it invests to catch up, they do not see many good reasons to stay negative at the current share price. It is not yet clear how this upgrade will affect Colgate-Palmolive’s market and earnings in the long term.
COLGATE-PALMOLIVE COMPANY stock opened at $79.0 and closed at $81.1, up by 3.0% from prior closing price of 78.7.
The company’s fundamentals reflect its long term potential, and the VI app makes it easy to see where there may be potential risks. Based on the VI Risk Rating, COLGATE-PALMOLIVE COMPANY is a medium risk investment in terms of financial and business aspects. You can check out what business and financial areas are presenting potential risks on our website.
This follows news that the company’s stock price rose 3.0% the following day. Colgate-Palmolive is a consumer goods company that manufactures and markets oral, personal and home care, and pet nutrition products. The company has a long history of dividend payments and is a component of the Dow Jones Industrial Average. Investors may want to consider Colgate-Palmolive as a potential investment because of the company’s long history of dividend payments, strong brand name, and position in the Dow Jones Industrial Average.
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