Consumer products maker Colgate-Palmolive Company (CL) on Tuesday caught a big upgrade from analysts at Argus Research.

The firm said it boosted its rating on CL from “Hold” to “Buy” with a $118 price target. That target suggests a 19% upside tot he stock’s Monday closing price of $99.01.

Argus said it made the move due to CL’s emerging market exposure, better free cash flow, and expectations for continued dividend payout raises and share buybacks.

Colgate-Palmolive shares posted small gains in premarket trading Tuesday.

The Bottom Line
Shares of Colgate-Palmolive (CL) have a 2.50% dividend yield, based on last night’s closing stock price of $99.01. The stock has technical support in the $94-$95 price area. The stock is trading near all-time highs of $100-$101 a share.

Colgate-Palmolive Company (CL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.