Colgate-Palmolive (India) gained 1.6 per cent after UBS upgraded the stock to “buy” from “neutral.” UBS raised the target price to Rs. 1,950 from Rs. 1,800.
UBS says it is “positive about the brand” as urban consumers buy into oral care products.
It adds Colgate-Palmolive “has been ahead of the competition in the last one to two years.”
UBS upgrade comes after Credit Suisse raised Colgate-Palmolive to “outperform” from “underperform.”