Oppenheimer Says Sell Into Strength in Procter & Gamble (PG): It's Pretty Obvious Why Ackman's Involved
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Price: $144.26 +0.12%
Rating Summary:
19 Buy, 23 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 3
Rating Summary:
19 Buy, 23 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 3
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Oppenheimer maintains a 'Perform' on Procter & Gamble (NYSE: PG).
Analyst, Joseph Altobello, said, "While news of Bill Ackman's stake in P&G certainly could make things interesting and result in value-enhancing changes at the company, the lack of a "magic bullet" and the nature of the company's problems are such that this is likely to take some time to play out. Thus, we are maintaining our Perform rating on P&G and suggest investors act opportunistically on any material strength in the shares."
More bluntly, Altobello, suggests using the recent strength to Sell shares...and points out Ackman's interest in P&G being relatively obvious...its not the impressive portfolio of well-known global brands, it's the meaningful underperformance vs. peer group and broader market. Altobello expects to see management changes, but doesn't see a breakup of the company being a likely outcome. However, an upsized restructuring program and/or additional asset sales are fairly probable.
For an analyst ratings summary and ratings history on Procter & Gamble click here. For more ratings news on Procter & Gamble click here.
Shares of Procter & Gamble closed at $64.81 yesterday.
Analyst, Joseph Altobello, said, "While news of Bill Ackman's stake in P&G certainly could make things interesting and result in value-enhancing changes at the company, the lack of a "magic bullet" and the nature of the company's problems are such that this is likely to take some time to play out. Thus, we are maintaining our Perform rating on P&G and suggest investors act opportunistically on any material strength in the shares."
More bluntly, Altobello, suggests using the recent strength to Sell shares...and points out Ackman's interest in P&G being relatively obvious...its not the impressive portfolio of well-known global brands, it's the meaningful underperformance vs. peer group and broader market. Altobello expects to see management changes, but doesn't see a breakup of the company being a likely outcome. However, an upsized restructuring program and/or additional asset sales are fairly probable.
For an analyst ratings summary and ratings history on Procter & Gamble click here. For more ratings news on Procter & Gamble click here.
Shares of Procter & Gamble closed at $64.81 yesterday.
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