Photo: ReutersPhoto: ReutersGlobal financial services firm UBS has upgraded Colgate-Palmolive India to "buy" from "neutral", raising the target price to Rs 1,950 from Rs 1,800.
Reacting to the news, shares of the company jumped 1.6 per cent in early trade on Thursday. It closed 2.28 per cent higher on the BSE.
UBS said it is "positive about the brand" as urban consumers buy oral care products. It added that Colgate-Palmolive "has been ahead of the competition in the last one to two years."
The recent upgrade of Colgate-Palmolive India comes after Credit Suisse raised its outlook on the stock to "outperform" from "underperform".
(Reuters)
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