Street View: Colgate-Palmolive to stand tall through tough times

Colgate-Palmolive CL.N reported quarterly results that beat Wall Street estimates and raised its annual sales forecast on Friday, banking on moderate price hikes and higher advertising spending to boost demand for its oral and personal care products

Median PT of 24 brokerages covering the stock is $100 - LSEG data

NEAR-TERM PRESSURE TO REMAIN

Morgan Stanley ("overweight," PT: $104) says defensive mix, FX flex, and recent reinvestments puts CL in a better position than peers

Barclays ("equal-weight," PT: $86) says although most consumer staples companies are experiencing a decline in category demand to different extents, Colgate stands out for its unusually positive outlook on future growth in these categories

RBC Capital Markets ("sector perform," PT: $97) expects continued category pressure in the near term with greater risk in the back half if categories remain sluggish, but the brokerage doesn't view guidance as totally unreasonable at this point

J.P.Morgan ("overweight," PT: $103) says "the most defensive and/or consistent HPC/Beverage multinationals like CL should continue to outperform because of the consistency of total shareholder return, and the higher quality which is what investors look for in staples in periods of high volatility"