Jefferies Downgrades Procter & Gamble (PG) to Hold

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Jefferies downgraded Procter & Gamble (NYSE: PG) from Buy to Hold, citing slowing EPS growth. The firm cut its price target from $75.50 to $71.

The firm states, "While below historical average valuation, we believe PG shares are limited near-term upside given modest EPS growth expected for the next couple of years as commodity cost inflation and a still-sluggish consumer environment pressure fundamental trends. PG's strong balance sheet and strong cash return to shareholders should mitigate downside."

For more ratings news on Procter & Gamble click here and for the rating history of Procter & Gamble click here.

Shares of Procter & Gamble closed at $64.72 yesterday, with a 52 week range of $59.17-$67.72.

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