UPDATE - UBS Downgraded Procter & Gamble (PG); The Head is Moving Faster Than The Tail
Get Alerts PG Hot Sheet
Price: $160.54 --0%
Rating Summary:
17 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 13
Rating Summary:
17 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 13
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UPDATE - UBS downgraded Procter & Gamble (NYSE: PG) from Buy to Neutral. PT cut from $72 to $66.
UBS analyst says, "Three reasons for our downgrade: 1) we are concerned that P&G’s culture is limiting the organization’s ability to meaningfully change the way they do business — having a direct impact on the magnitude and pace at which the company can cut costs, 2) we see incremental risk to the company’s downwardly revised 2012 EBIT guidance, and 3) the opportunity cost to own PG is high given other alternatives across consumer (we would look at Altria (NYSE: MO / Estee Lauder (NYSE: EL) / McDonald's (NYSE: MCD) / Kraft (NYSE: KFT))."
UBS lowers FY12 EPS estimate from $4.18 to $4.01.
UBS analyst says, "Three reasons for our downgrade: 1) we are concerned that P&G’s culture is limiting the organization’s ability to meaningfully change the way they do business — having a direct impact on the magnitude and pace at which the company can cut costs, 2) we see incremental risk to the company’s downwardly revised 2012 EBIT guidance, and 3) the opportunity cost to own PG is high given other alternatives across consumer (we would look at Altria (NYSE: MO / Estee Lauder (NYSE: EL) / McDonald's (NYSE: MCD) / Kraft (NYSE: KFT))."
UBS lowers FY12 EPS estimate from $4.18 to $4.01.
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