BTIG Downgrades Procter & Gamble (PG) to Neutral

BTIG downgraded Procter & Gamble (NYSE: PG) from Buy to Neutral.

Analyst April Scee said, "Stock has outperformed HPC peers – ex-direct sellers – this year (+17% vs. +14%) and multiple has expanded 2 turns. The Hundred Brand Purge will create a leaner, more focused organization, and cost cutting potential remains. However, we fail to see a near-term catalyst for a further re rating, and downgrade PG to Neutral."

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 $92.64 yesterday.

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