Brokerages show mixed opinions on Colgate post annual analyst meet

Jefferies said that Colgate is doubling down on category development initiatives, including Below the Line and Above the Line activations, new launches, and school outreach programme.

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Jefferies has a buy rating on Colgate Palmolive with a target piece of Rs 2,180. The foreign brokerage firm believes that there is a case to accelerate growth through aggressive investments. Jefferies further said that Colgate’s management took serious efforts to highlight initiatives to drive growth through premiumisation.

Colgate has ramped-up its premiumisation efforts and plans to tap into global portfolio, which is the whitening segment. Colgate has also launched a teeth whitening pen. Currently, more than 86 percent of toothpaste is in the mass category of below Rs 110. Whereas, 78 percent of toothbrush are sold under the Rs 40 pricetag.

Jefferies said that Colgate is doubling down on category development initiatives, including Below the Line and Above the Line activations, new launches, and school outreach programmes. Driving category growth remains a key focus as just 20 percent of urbans brush twice a day, while 55 percent of rural population do not brush daily, said the brokerage firm.

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Prabhudas Lilladher has a hold rating on the stock with a target price of Rs 1,869. The brokerage firm expects sales and profit after tax to grow at a CAGR of 7.8 percent and 12.6 percent, respectively over FY23-25. “Colgate is launching total sensitive toothpaste and has launched battery operated floss and visible white O2 to drive premiumisation while volumes will be driven by Strong teeth, Total, Max Fresh, and Active Salt,” said Prabhudas Lilladher.

Investec has a hold rating on the stock. The brokerage firm said that strong performance in the April-June quarter can be attributed to a weak base in the same quarter last year. Investec believes that FY24 would be a strong earnings growth on a weaker base of volumes and margins.

The stock was up 1.88 percent at Rs 1976.20 at 9.26 a at the National Stock Exchange.