Stifel Upgrades Procter & Gamble (PG) to Buy

Stifel upgraded Procter & Gamble (NYSE: PG) from Hold to Buy with a price target of $85.00.

Analyst Mark Astrachan highlighted: accelerating sales and operating profit growth, additional cost savings, and an undemanding valuation

"We anticipate accelerating organic sales growth through F2017 (June fiscal yearend) driven by modestly improving market share trends resulting from improving execution, innovation, selective reinvestment of cost savings, and increasingly favorable y/y comparisons," the analyst said.

They now anticipate F2016 and F2017 EPS of $3.73 (was $3.74) and $4.24 (was $4.21), respectively.

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 $74.98 yesterday.

You May Also Be Interested In

• Procter & Gamble (PG) PT Raised to $185 at Argus
• Amazon.com (AMZN) PT Raised to $215 at UBS
• Macquarie Upgrades ASM Pacific Technology (522:HK) (ASMVY) to Outperform