Procter & Gamble (PG – Research Report), the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Stephen Powers from Deutsche Bank remains neutral on the stock and has a $166.00 price target.
Stephen Powers’ Buy rating for Procter & Gamble (PG) is primarily based on the company’s positive 1Q results and the reaffirmation of its full-year guidance. Despite the anticipated foreign exchange (FX) and tax challenges, the company’s organic growth of 7% met the expectations set by Powers and outperformed both Deutsche Bank’s and the Street’s predictions. Additionally, the company’s gross margins were notably higher than anticipated, which contributed to operating margins that significantly exceeded Powers’ model and the Street’s estimates, despite a higher investment in SG&A.
Looking forward, Procter & Gamble has maintained its EPS guidance range for the fiscal year, even in the face of potential FX headwinds and a slightly increased tax rate. Powers also points to the company’s forecast of continued organic growth, a target he considers somewhat conservative considering the strong start to the fiscal year. Therefore, in light of these factors, including the robust 1Q results and the reiteration of the full-year guidance, Powers has assigned a Buy rating to Procter & Gamble.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $174.00 price target.
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Based on the recent corporate insider activity of 119 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PG in relation to earlier this year.
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Procter & Gamble (PG) Company Description:
Procter & Gamble Co. manufactures and sells branded consumer packaged goods across five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. Some of the popular brands owned by the company include Head & Shoulders, Pantene, Olay, Gillette, Oral-B, Vicks, Ariel, Tide, Pampers, Luvs and Bounty. The company was founded by William Procter and James Gamble in 1837 and is headquartered in Cincinnati, OH.
Read More on PG:
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