Market CompetitionDownside risks include tighter competition, market share losses, higher promotional activity, volatility in input costs, fluctuations in foreign exchange, and weak macroeconomic and consumption.
Sales PerformanceEmerging markets are expected to be solid but less so compared to previous years, making it harder for the company to achieve the high end of its sales algorithm.
Valuation And GrowthThe valuation of Colgate-Palmolive is unlikely to increase from current levels despite gross margin expansion and maintained investment levels.