UBS downgrades Colgate citing higher valuations

Thu Jan 10, 2013 4:58pm IST

Related Topics

Stocks

   

Reuters Market Eye - UBS downgrades Colgate Palmolive India Ltd (COLG.NS) to "neutral" from "buy", saying the stock has well outperformed the consumer sector since October 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 FMCG index's 5.5 percent rise in the same period.

Colgate shares fell 1.1 percent to 1,524.75 rupees.

(Reporting by Abhishek Vishnoi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Global Trade Deal

Global Trade Deal

Rural votes, old traumas drive India's WTO brinkmanship.`  Full Article 

E-Commerce Funding

E-Commerce Funding

E-tailer Flipkart raises $1 billion in funding.  Full Article 

Chopper Deal

Chopper Deal

Finmeccanica settles with Italy prosecutors to end Indian chopper deal probe.  Full Article 

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

New Frontiers

New Frontiers

EXCLUSIVE - Goldman moves executive to new role building ETFs.  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Argentina Debt Default

Argentina Debt Default

Insight - Jaded Argentines brace for looming debt default   Full Article 

Anti-trust Probe

Anti-trust Probe

Microsoft targeted in apparent Chinese anti-trust probe  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage