Oppenheimer Downgrades P&G (PG) Following Mixed Q3 Results
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Price: $78.70 --0%
Rating Summary:
11 Buy, 11 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 9 | Down: 12 | New: 13
Rating Summary:
11 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 13
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Shares of Procter & Gamble (NYSE: PG) are moving lower in pre-market action Monday following a downgrade from Oppenheimer's Joseph Altobello.
The analyst now rates the stock a Perform, down from Outperform previously. Altobello suspended his $75 price target. Altobello said he is concerned with P&G following "another mixed quarter" on Friday. Procter shares fell more than 3.5 percent following the results.
The Oppenheimer analyst warned P&G could "remain growth-challenged for some time" as Altobello is beginning to view the company's issues as more structural than he had originally believed. He is no longer modeling for a stronger second half of this year.
P&G shares last traded at $64.23, down about 0.3 percent from Friday's close.
For an analyst ratings summary and ratings history on Procter & Gamble click here. For more ratings news on Procter & Gamble click here.
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The analyst now rates the stock a Perform, down from Outperform previously. Altobello suspended his $75 price target. Altobello said he is concerned with P&G following "another mixed quarter" on Friday. Procter shares fell more than 3.5 percent following the results.
The Oppenheimer analyst warned P&G could "remain growth-challenged for some time" as Altobello is beginning to view the company's issues as more structural than he had originally believed. He is no longer modeling for a stronger second half of this year.
P&G shares last traded at $64.23, down about 0.3 percent from Friday's close.
For an analyst ratings summary and ratings history on Procter & Gamble click here. For more ratings news on Procter & Gamble click here.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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