February 14, 2013 at 10:16 AM EST
Canaccord Genuity Initiates Coverage on Colgate-Palmolive at “Sell” (CL)

Analysts at Canaccord Genuity started off consumer goods maker Colgate-Palmolive Company (CL) with a bearish rating on Thursday based on the company’s current share value.

The analysts give CL a “Sell” rating with a price target of $102, suggesting a 5.5% downside to Wednesday’s closing price of $107.90.

Colgate-Palmolive shares were up slightly during morning trading on Thursday. The stock is up about +18% over the past year.

The Bottom Line
Shares of Colgate-Palmolive (CL) have a dividend yield of 2.30% based on Thursday’s intraday trading price of $108.00 and the company’s annualized dividend payout of $2.48.

Colgate-Palmolive Company (CL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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