Argus Upgrades Procter & Gamble (PG) to Buy
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Argus upgraded Procter & Gamble (NYSE: PG) from Hold to Buy with a price target of $103.00.
The firm notes the company has pruned less profitable brands and is taking steps to boost organic growth, profitability and productivity.
They expect the company’s consistent dividend hikes and share repurchases to remain attractive to many investors and to provide support for the shares.
The firm is raising FY17 EPS estimate from $3.90 to $4.00 and FY18 estimate from $4.20 to $4.
Shares of Procter & Gamble closed at $88.54 yesterday.
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