Procter & Gamble (PG) Receives a Buy from Wells Fargo


Wells Fargo analyst Bonnie Herzog reiterated a Buy rating on Procter & Gamble (PG) yesterday and set a price target of $115. The company’s shares closed yesterday at $103.16, close to its 52-week high of $107.20.

Herzog said:

“We would be buyers on today’s weakness & continue to see several catalysts to drive shares higher. As such, we reiterate our Outperform rating.”

According to TipRanks.com, Herzog is a 4-star analyst with an average return of 4.6% and a 65.7% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Procter & Gamble with a $102.55 average price target.

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Based on Procter & Gamble’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $17.44 billion and net profit of $3.19 billion. In comparison, last year the company earned revenue of $16.28 billion and had a net profit of $2.51 billion.

Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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