Argus Upgrades Procter & Gamble (PG) to Buy

October 12, 2016 7:45 AM EDT
Get Alerts PG Hot Sheet
Price: $85.21 +1.43%

Rating Summary:
    10 Buy, 18 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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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.

For an analyst ratings summary and ratings history on Procter & Gamble click here. For more ratings news on Procter & Gamble click here.

Shares of Procter & Gamble closed at $88.54 yesterday.

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