Benzinga | Jan 31, 2022 01:50PM EST

Credit Suisse Cuts Price Target On This Consumer Goods Giant- Read Why

* Credit Suisse analyst Kaumil Gajrawala lowered the price target of Colgate-Palmolive Co (NYSE:CL) to $90 from $95 and kept an Outperform rating on the shares, implying a 9.3% upside.

* The move comes after the company delivered weaker-than-expected Q4 results, with the topline showing signs of slowdown and pricing falling short of commodity inflation.

* The analyst notes that volume performance disappointed, with declines in most markets despite pricing staying flat sequentially.

* Gajrawala thinks there is a risk to estimates amid challenges and uncertainties near-term.

* Morgan Stanley analyst Dara Mohsenian maintained Colgate-Palmolive with an Equal-Weight and raised the price target from $90 to $91, suggesting a 10.5% upside.

* Price Action: CL shares traded lower by 0.81% at $82.38 on the last check Monday.