Wells Fargo Downgrades Procter & Gamble (PG) to Market Perform

Wells Fargo downgraded Procter & Gamble (NYSE: PG) from Outperform to Market Perform with a price target of $85-$87 (from $88-$90). Analyst Chris Ferrara noted expectations were low, but he sees no signs of progress and he thinks share gains are less likely. FQ4/FY15/FY16 EPS estimates were reduced to $0.91/$4.47/$4.89 from $0.92/$4.48/$4.91.

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 $81.61 yesterday.

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