UPDATE - UBS Downgraded Procter & Gamble (PG); The Head is Moving Faster Than The Tail
PG Hot Sheet
Rating Summary:10 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 7 | New: 26
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.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
You May Also Be Interested In
- Needham & Company Reiterates a 'Buy' on NetApp (NTAP); Solid 4Q Overshadowed by Conservative 1Q
- UBS Maintains a 'Buy' on Ralph Lauren (RL); Taking A More Conservative Approach
- Nomura Securities Reiterates a 'Buy' on American Eagle Outfitters (AEO); Adjusting Estimates After Q1 Review
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
