Weeden & Co Starts Procter & Gamble (PG) at Buy; We Are Siding With The "Bully"
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Price: $79.04 --0%
Rating Summary:
11 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
11 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade PG Now!
Weeden & Co initiates coverage on Procter & Gamble (NYSE: PG) with a Buy. PT $79.
Weeden analyst says, "Organic sales growth of 4%, the low end of management's long term target of 4-6%. We believe that there is upside to our sales projections as we discuss below, 40 bps of operating margin expansion per year compared with the average of 90 bps in annual savings targeted by P&G's simplification, and productivity initiatives...We believe that P&G will focus on reinvestment to drive top-line momentum while keeping consensus within realistic, though uninspiring, EPS projections...Owning PG shares requires long-term investment horizons, as the complexity and the size of P&G's businesses don't lend themselves to single catalysts."
"While we may be a bit early, as 4Q (June Q) looks much easier in terms of cost comps and top-line benefit from the debottlenecking of supply constrains (mainly Iams, Fusion Pro Glide), we believe that the execution of "One Company", P&G's new decision making process to support global initiatives, will unlock the value of P&G's attractive portfolio of brands."
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 $64.54 yesterday, with a 52 week range of $39.37-$66.95.
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Weeden analyst says, "Organic sales growth of 4%, the low end of management's long term target of 4-6%. We believe that there is upside to our sales projections as we discuss below, 40 bps of operating margin expansion per year compared with the average of 90 bps in annual savings targeted by P&G's simplification, and productivity initiatives...We believe that P&G will focus on reinvestment to drive top-line momentum while keeping consensus within realistic, though uninspiring, EPS projections...Owning PG shares requires long-term investment horizons, as the complexity and the size of P&G's businesses don't lend themselves to single catalysts."
"While we may be a bit early, as 4Q (June Q) looks much easier in terms of cost comps and top-line benefit from the debottlenecking of supply constrains (mainly Iams, Fusion Pro Glide), we believe that the execution of "One Company", P&G's new decision making process to support global initiatives, will unlock the value of P&G's attractive portfolio of brands."
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 $64.54 yesterday, with a 52 week range of $39.37-$66.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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