Deutsche Bank Upgrades Procter & Gamble (PG) to Buy; Riding the Tides

April 29, 2011 9:03 AM EDT
Get Alerts PG Hot Sheet
Price: $85.21 --0%

Rating Summary:
    10 Buy, 18 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 53
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Deutsche Bank upgraded Procter & Gamble (NYSE: PG) from Hold to Buy. PT increased by $2 to $72.

Deutsche analyst says, "Brands and market shares in most countries remain healthy with outsized developing markets growth more than making up for depressed category growth rates in developed ones. Combination of pricing and currency is likely to more than offset cost inflation and allow for higher strategic spending. With meaningful profit realization and signs that 4-6% organic growth can be sustained in the near-term, we are upgrading to a BUY on relatively depressed valuation levels and likely sector rotation into staples."

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 $64.50 yesterday.

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