8. We are at the beginning of 2020, and we have the following information on the stock of Colgate Palmolive. Please, find the value of the stock using a DCF valuation and make an investment recommendation:

Current price: 79 $

Number of shares 858 Million $

The market value of Net Debt 5,220 million $

Consensus analyst target price: 88 $

The company has a WACC of 5.5%.

FCF 2020 is expected to be 2,620 Million $, FCF 2021 is expected to be 2,830 Million $, FCF 2022 is expected to be 2,925 Million $ and FCF 2023 is expected to be 3,080 Million $.

Constant growth after the year 2023 of 2%