UBS Raises Price Target on Procter & Gamble (PG) Following 3c EPS Beat
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Rating Summary:
17 Buy, 19 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 2
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UBS reiterated a Neutral rating on Procter & Gamble (NYSE: PG), and raised the price target to $81.00 (from $78.00), following the company's 1Q16 earnings report. PG outperformed FYQ1 EPS expectations, delivering $0.98 vs. consensus of $0.95. Looking forward, PG maintained FY16 EPS guidance.
Analyst Stephen Powers commented, "Overall, PG outperformed FYQ1 EPS expectations, delivering $0.98 (vs. UBSe/cons. of $0.95), as productivity, commodities, and FX transaction benefits offset another quarter of top-line pressure (SG&A was 27.9% of sales vs. UBSe at 29.5%). Organic growth fell -1% (vs. UBSe of -0.2%) due to competition, SKU cuts (largely in EM), inventory destocking, and capacity constraints, but matched depressed pre-quarter whispers."
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 $77.03 yesterday.
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