Analysts upgrade Colgate-Palmolive, saying it has room to run after Friday's big jump

Colgate-Palmolive's Colgate Total brand toothpaste
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Colgate-Palmolive received a pair of upgrades on Monday as Wall Street analysts backed the consumer staple stock amid increased market volatility.

RBC Capital Markets upgraded the stock, which rose by more than 6% on Friday even as the broader market sold off, to outperform from sector perform. Analyst Nik Modi said in a note to clients that the company was well positioned to match or beat its revenue guidance and benefit from increased demand by institutional investors.

"After a sustained period of under-performance, we believe CL shares are poised to outpace the returns of its mega cap peers," Modi said.