Jefferies analyst Kevin Grundy maintained a Hold rating on Procter & Gamble (PG) today and set a price target of $86. The company’s shares closed yesterday at $91.36, close to its 52-week high of $93.14.
“We attended Cincinnati, where the co. reiterated its outlook and announced it will change its internal organizational structure to better empower local business units and improve accountability – an area of focus in last year’s heated proxy battle with Nelson Peltz. We commend the co.’s decision, but remain on the sidelines awaiting greater signs of sustained fundamental improvement, while valuation at 20x NTM P/E appears full.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 7.6% and a 62.1% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Skyline Champion Corporation, Coca-Cola European Partners, and Constellation Brands Inc.
Procter & Gamble has an analyst consensus of Hold, with a price target consensus of $87.27, a -4.5% downside from current levels. In a report released today, Wells Fargo also maintained a Hold rating on the stock with a $84 price target.
The company has a one-year high of $93.14 and a one-year low of $70.73. Currently, Procter & Gamble has an average volume of 8.83M.
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