Motilal Oswal 's research report on Colgate
Colgate’s (CLGT) 4QFY20 results were disappointing relative to expectations, but understandable, given the COVID-19 related disruptions highlighted by peers that have already declared results. We maintain ‘Buy’ rating on CLGT due to inexpensive valuations (below 10-year average P/E), relatively resilient portfolio (v/s peers) in an uncertain time, among the best of breed balance sheet metrics and incipient signs of market share gains.
Outlook
We arrive at a TP of INR1,520 (target multiple of 42x FY22E EPS, based on 5-year average).
For all recommendations report, click here
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