May 15, 2012 at 09:19 AM EDT
Colgate-Palmolive Upgraded to “Buy” at Argus Research (CL)

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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here