Procter & Gamble (PG): Cutting PT After Analyst Day On FX - Jefferies

November 21, 2016 7:23 AM EST
Get Alerts PG Hot Sheet
Price: $87.72 +0.87%

Rating Summary:
    10 Buy, 18 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Jefferies analyst, Kevin Grundy, reiterated his Buy rating on shares of Procter & Gamble (NYSE: PG) after the co.'s analyst day where mgmt reiterated its LT growth expectations and underscored its emphasis on balanced top/bottom line growth.

The analyst stated "recent USD strength may pressure results but we view FY17 guidance as sufficiently conservative. YTD trends are solid and we like the set-up with room to re-rate as org sales growth improves."

The price target drops to $93 on FX and a lower group multiple, not a change in company fundamentals.

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 $82.00 yesterday.

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