CL reached all-time highs

Updated on:
Nov 20th, 2020

On Friday Colgate-Palmolive Company ($CL) did it again and shares closed at $85.16 barely moving a -0.26%; new all-time highs are set at $86.41.

Colgate-Palmolive got 4 new ratings from brokerage companies on November 2 : Morgan Stanley rated CL with hold, Royal Bank of Canada marked up the price target from $88.00 to $90.00 (5.68% over the closing price) with a bullish rating and UBS Group forecasts a target price of $90.00, with a strong buy rating. Please note: these are not recommendations to buy or sell this stock. Check with your personal financial advisor.

Since last March, Colgate-Palmolive has been drawing an uptrend that by now marked an amazing 48.16%. The price line shows higher highs and higher troughs, and along the way gave some entry points for those who wanted to enter. Latest pullback was in late October, when price bounced at $75.56. On November 3, Colgate-Palmolive broke out above its last top ($80.55) offering a good buying opportunity

CL made a 7.1% over the past month, beating the average growth of its competitors. If we look at its direct competitors, Procter & Gamble (PG) performed a -1.7%, Unilever (UL) made a -3.7%, Unilever (UN) made a -2.8%, Estee Lauder (EL) performed a 2.8%, Kimberly-Clark (KMB) made a 0.7% and Clorox (CLX) performed a -2.5%.

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.. The stock belongs to the Household & Personal Products industry in the Consumer Defensive sector. The company's Headquarters are in New York, United States, and has 34,300 employees worldwide. Its corporate website is http://www.colgatepalmolive.com.

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