Canaccord upgrades Colgate-Palmolive on upbeat EM performance

|By:, SA News Editor

Unilever's (UL) growth in emerging markets may have slipped in Q3, but Colgate-Palmolive (CL) turned in another quarter of "robust" numbers, as EM organic sales rose 9.5%.

Canaccord's Eddy Hargreaves is impressed, noting this quarter's growth "followed 9.5% in Q1 and 8.5% in Q2."

CL upgraded to Hold from Sell.

Price target hiked to $58 from $52.

More on CL's quarter: CC transcript