12:50 PM EDT, 04/08/2024 (MT Newswires) -- Colgate-Palmolive ( CL ) is set for continued organic sales growth momentum in the short-to-medium term compared with peers, given its pricing power and market share gains in oral care and pet segments, Morgan Stanley said in a Sunday note.

The company is scheduled to release its Q1 results on April 26 and Morgan Stanley said it expects the company to post "solid, above consensus" organic sales for the period, while gross margins and earnings per share are expected to be in line with Street views.

Morgan Stanley estimates the company's Q1 organic sales growth at 6.2%, compared with the 5.1% consensus, and EPS at $0.82, in line with consensus. For 2024, Morgan Stanley estimates EPS of $3.52, against the $3.49 consensus.

The investment firm said it expects Colgate-Palmolive ( CL ) to reiterate its full-year outlook of mid-single to high-single-digit EPS growth due to the company's conservatism and propensity to reinvest.

Morgan Stanley has an overweight rating on Colgate-Palmolive ( CL ), with a $93 price target.

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