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    HomeNewsBusinessStocksHold Colgate-Palmolive; target of Rs 950: ICICI Direct

    Hold Colgate-Palmolive; target of Rs 950: ICICI Direct

    ICICI Direct recommended hold rating on Colgate-Palmolive with a target price of Rs 950 in its research report dated January 30, 2017.

    January 31, 2017 / 11:51 IST
       
       
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      ICICI Direct's research report on Colgate-Palmolive

      Colgate-Palmolive (CPIL) reported a disappointing Q3FY17 performance. Revenue for the quarter declined 8.6% YoY to Rs 981.6 crore (I-direct estimate: Rs 947.1 crore) amid demonetisation and increasing competitive intensity. We anticipate 10-12% decline in volumes considering 3.0% price decline during the quarter.

      OutlookPAT estimate is expected to grow moderately at 6.9% CAGR (FY17E-19E) due to lower EBITDA margin & higher tax incidence. We maintain our HOLD rating on the stock with a target price of Rs 950/share.
      For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: Jan 31, 2017 11:51 am

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