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Procter & Gamble downgraded to Hold from Buy at TD Cowen

TD Cowen downgraded Procter & Gamble to Hold from Buy with a price target of $156, up from $150. The firm says the pace of the company’s recovery is “likely to drag.” Bulls owns the shares on the assumption that Procter’s organic sales growth bottomed in Q2 of 2025 at 0% and will accelerate on easier compares and a recovery in market share, the analyst tells investors in a research note. However, TD believes Procter’s growth will “remain subdued” at 2% over the next two years on a lack of pricing power and pressure on the Hispanic consumer.

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