The shares of Colgate-Palmolive Company (NYSE: CL) are up 0.9% at $76.94 at last check, after the company received an upgrade from Deutsche Bank to "buy" from "hold," as well as a price-target hike to $86 from $84. The analyst noted the company's "growth mindset," which is the result of a three-year corporate culture revamp, adding CL should ultimately overcome near-term cost challenges.  

More analysts may follow in Deutsche Bank's footsteps. Of the 11 in question, nine still carry a tepid "hold" or worse rating on CL, while only two call it a "strong-buy." Should some of this negative sentiment begin to unwind, the security could go even higher.

Colgate-Palmolive stock has trended lower on the charts since its rally to the $84 level in July. Overhead pressure at the 20-day moving average has kept a tight lid on the equity, which experienced a volatile last 12 months. Year-to-date, CL remains down 10.5%.

An unwinding of pessimism in the options may boost the shares, too. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CL's 10-day put/call volume ratio of 2.08 sits higher than 91% of readings in the past year. This means puts have been getting picked up at a quicker-than-usual clip in the last two weeks. 

Options seem like a solid choice to weigh in on CL's next move. The equity's Schaeffer's Volatility Index (SVI) of 16% stands higher than 21% of readings from the past year. In other words, the options market is pricing in low volatility expectations for the security right now.