JPMorgan downgraded Procter & Gamble to Neutral from Overweight with a price target of $170, down from $178. The firm expects the company to report “another lackluster quarter” and normalization of category growth. Lower income consumers in developing markets are more cautious, and Procter is more dependent on those markets relative to emerging markets, the analyst tells investors in a research note. As such, JPMorgan believes the company’s lower growth pace will persist in the medium term.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PG:
- Procter & Gamble, Carvana, Valero, Marathon, Nebius: Trending by Analysts
- Procter & Gamble price target lowered to $180 from $186 at UBS
- Procter & Gamble price target raised to $161 from $160 at Barclays
- Rivian downgraded, PayPal upgraded: Wall Street’s top analyst calls
- Procter & Gamble downgraded to In Line from Outperform at Evercore ISI