Colgate-Palmolive India's rally fizzles as brokerages mixed on growth prospects

Colgate-Palmolive (India)

28/11/2024 08:31

** Colgate-Palmolive (India)  COLG.NS  shares up about 13%
in last four sessions
    ** Stock loses steam, up 0.2% at day after co's analyst day
presentation
    ** Brokerages mixed on personal care product maker's growth
prospects
    ** Citi, Goldman Sachs retain "Sell" rating on COLG as per
Moneycontrol website on earnings growth moderation in near term
    ** JP Morgan upgrades to "Overweight" from "Neutral" on
COLG's premium products, pricing power
    ** COLG has fallen about 22% since hitting record high of
3,890 rupees in Sept
    ** At least 3 brokerages upgrade stock after CL's analysts
day meeting, while at least 4 brokerages have reduced target
price, as per LSEG
    ** Analysts avg rating is equivalent of "Hold", media PT at
3,060 rupees, down from 3,067 rupees a month back, per LSEG data
    ** COLG shares up 20.4% YTD vs ~ 22% gains in mid-cap index
 .NIFMDCP100 

 (Reporting by Sethuraman NR)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))