Piper Sandler Reiterates Neutral Rating on Procter & Gamble (PG)

Piper Sandler analyst Korinne Wolfmeyer reiterated a Neutral rating and $174.00 price target on Procter & Gamble (NYSE: PG).

The analyst commented, "Though updates were rather high level, we came away from PG's investor day this afternoon with increased optimism around the longer-term trajectory of the business. Investments to support the top line such as marketing and innovation, as well as cost savings to protect and grow margins over the coming years, should support management's long-term growth algorithm targeting top-third TSR. As such, we recognize the longer-term outlook is looking solid here, though it's our hesitations around the 12-month outlook that's keeping us on the sidelines. We reiterate our Neutral rating, and our PT remains unchanged at $174."

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 $172.75 yesterday.

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