Colgate-Palmolive called defensive play after clearing China hurdle

• Colgate-Palmolive (NYSE:CL) is upgraded by Canaccord Genuity to a Hold rating from Sell.
• The investment firm's bear call on Colgate only played out this spring to a minor degree as the consumer products seller navigated around issues in China and F/X pressure.
• Canaccord now sees Colgate-Palmolive as a defensive play.
• CL +0.6% to $66.75.