Procter & Gamble (PG) PT Raised to $168 at Jefferies After Reporting a 7c Beat

April 21, 2021 8:27 AM EDT
Get Alerts PG Hot Sheet
Price: $133.46 -0.8%

Rating Summary:
    13 Buy, 18 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 24
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Jefferies analyst Kevin Grundy raised the price target on Procter & Gamble (NYSE: PG) to $168.00 (from $167.00) after the company delivered a beat in 3Q, including. +4% org sales growth driven by +7%/+22% in US/China. A lower operating margin was offset by non-op items and a lower tax rate, resulting in 3Q EPS of $1.26 vs. $1.19 Street. FY21 EPS/organic sales guidance was maintained despite noting greater commodity / freight / FX pressures.

The analyst reiterated a Buy rating, stating "Our above consensus EPS ests. are little changed post PG's solid 3Q and reiterated FY21 guidance. Despite difficult C-19 comps/commodity concerns, P&G's flagship mkts remain very healthy (US/China +7%/22% in qtr), mkt share momentum continues (+40 bps YoY), and RGM tools (incl. pricing) should assuage mkt concerns re: P&G's EPS outlook. HPC/Bevs' group P/E still near 10+ yr low vs. S&P 500 w/ PG at ~22.5x well positioned to outperform."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co, Standard & Poor's