India's Colgate-Palmolive falls as analysts think co "needs aggression"

Colgate-Palmolive (India)

14/12/2022 05:26

** Shares of Colgate-Palmolive (India) Ltd  COLG.NS  fall
nearly 2.5% after analysts highlight that co needs aggressive
strategy to achieve its revenue target 
    ** The personal care product co told analysts, driving
toothpaste category volume growth and building viable business
in personal care are some strategies in focus
    ** Jefferies analysts - "We liked what we heard, but we
still think Colgate needs aggression, which requires parent's
buy-in"
    ** New CEO, MD Prabha Narasimhan said growth in core oral
requires habit building, which may be an uphill task - Jefferies
    ** Investec analysts say co's growth goals require habit
change at rural end in toothpastes, while Motilal Oswal says it
does not "see any material change in business prospects over the
near to medium term"
    ** Investec maintains HOLD rating, Motilal Oswal and Nomura
analysts reiterate Neutral rating  
    ** Co top loser on Nifty FMCG  .NIFTYFMCG  index, the only
major sectoral loser in today's session
    ** The consensus recommendation of 32 analysts tracking the
stock is "hold", and has remained so for the past three months:
Refinitiv data
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))