Deutsche Bank Maintains Hold on Colgate-Palmolive (CL)

Deutsche Bank is out with its report today on Colgate-Palmolive (NYSE: CL), maintaining Hold.

In a note to clients, Deutsche Bank writes, "This morning, Colgate announced that it has reached an agreement with Unilever to purchase its Sanex personal care brand, which the company acquired from Sara Lee in 2009 and was subsequently forced to divest due to anti-trust concerns, for roughly $940m. We are not changing estimates based on today's announcement and maintain our Hold rating and $84 target."

Shares of CL closed Wednesday at $78.29, down 0.18% from Tuesday's close.