Oppenheimer Downgrades P&G (PG) Following Mixed Q3 Results
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Price: $144.55 +0.20%
Rating Summary:
19 Buy, 23 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 23 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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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