In a report released today, Bonnie Herzog from Wells Fargo maintained a Hold rating on Procter & Gamble (PG), with a price target of $84. The company’s shares closed yesterday at $91.36, close to its 52-week high of $93.14.
Herzog noted:
“We expect investors to broadly embrace PG’s new org structure, but they will likely remain skeptical until further evidence of improvement is seen (beyond one good quarter). Ultimately, we need to see PG generate more balanced & consistent organic sales growth and margin improvement, which we think may prove difficult given that greater investments are needed to drive faster top-line. As such, we continue to believe valuation is appropriate considering where PG is in its turnaround process and maintain our Market Perform rating.”
According to TipRanks.com, Herzog is a 4-star analyst with an average return of 9.1% and a 75.0% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Coca-Cola European Partners, and Constellation Brands Inc.
Currently, the analyst consensus on Procter & Gamble is a Hold with an average price target of $87.27.
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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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