MARKET EYE-UBS downgrades Colgate citing higher valuations

Thu Jan 10, 2013 4:02pm IST

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* UBS downgrades Colgate Palmolive India Ltd to
"neutral" from "buy", saying the stock has well outperformed the
consumer sector since Oct. 1, 2012.
* However, UBS says it remains a believer in Colgate, raising
its target price to 1,720 rupees from 1,600 rupees. 
* "Colgate India is one of the most fundamentally sound
companies in the consumer space, and that its brand strength and
competitive management will continue to drive growth and margin
expansion," UBS says in a note dated Thursday.
* Colgate has risen 27.7 percent since the close of September
2012 compared with the BSE consumer sector index's 
5.5 percent rise in the same period. 
* Colgate shares fell 1.1 percent to 1,524.75 rupees.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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