Wells Fargo analyst Bonnie Herzog maintained a Hold rating on Procter & Gamble (NYSE: PG) yesterday and set a price target of $78. The company’s shares closed yesterday at $83.69.
Herzog noted:
“We still believe PG is on the right track, but remain concerned with slow progress despite a focus on improving speed & agility. We also continue to see limited n.t. positive catalysts as FY19 guidance is 2H weighted, with pricing not being realized until late FY19. We maintain our $78 price target & Market Perform rating.”
According to TipRanks.com, Herzog is a 4-star analyst with an average return of 6.5% and a 65.3% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Edgewell Personal Care, and Keurig Dr Pepper Inc.
Currently, the analyst consensus on Procter & Gamble is a Hold with an average price target of $82.50, representing a -1.4% downside. In a report issued on August 1, Morgan Stanley also maintained a Hold rating on the stock with a $85 price target.
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The company has a one-year high of $94.67 and a one-year low of $70.73. Currently, Procter & Gamble has an average volume of 8.17M.
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