Wells Fargo Downgrades Procter & Gamble (PG) to Market Perform; Near-Term Catalyst Appears Elusive
Tweet
Share
E-mail
Get Alerts PG Hot Sheet
Price: $162.55 -0.03%
Rating Summary:
17 Buy, 19 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
Rating Summary:
17 Buy, 19 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
Join SI Premium – FREE
Wells Fargo downgraded Procter & Gamble (NYSE: PG) from Outperform to Market Perform, price target range $64-67 from $67-71.
Analyst, Timothy Conder, said, "Downgrading shares of P&G to Market Perform after organic sales and market share lag primary competitors. Material upside catalysts lacking until the company can demonstrate a sustained ability to execute operating margin expansion (i.e., at least two consecutive quarters of operating margin progress), in our view. While management continues to make needed investments in D&E markets for the long-term growth of the company, the expected near-term catalyst for P&G shares from improving operating margins (driven largely by the company’s core business in developed markets) continues to be elusive."
"Lowering FY 2012E/2013E/2014E Core EPS to $3.87/$4.13/$4.58 from $4.06/$4.33/$4.86."
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 $64.28 yesterday.
Analyst, Timothy Conder, said, "Downgrading shares of P&G to Market Perform after organic sales and market share lag primary competitors. Material upside catalysts lacking until the company can demonstrate a sustained ability to execute operating margin expansion (i.e., at least two consecutive quarters of operating margin progress), in our view. While management continues to make needed investments in D&E markets for the long-term growth of the company, the expected near-term catalyst for P&G shares from improving operating margins (driven largely by the company’s core business in developed markets) continues to be elusive."
"Lowering FY 2012E/2013E/2014E Core EPS to $3.87/$4.13/$4.58 from $4.06/$4.33/$4.86."
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 $64.28 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Canaccord Genuity Downgrades Antofagasta Plc. (ANTO:LN) (ANFGF) to Hold
- JPMorgan Upgrades Dow Inc. (DOW) to Overweight
- Essity AB (ESSITYB:SS) (ESSYY) PT Raised to SEK243 at Barclays
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
