Wells Fargo lowered the firm’s price target on Procter & Gamble to $175 from $185 and keeps an Overweight rating on the shares. The firm says that they are hearing phrases like “is PG broken” or “is something wrong?” But share trends aren’t that different vs recent quarters when organic sales growth was much higher. Categories have simply slowed, and costs are up, Wells notes, adding that a reset is needed.
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Read More on PG:
- Procter & Gamble: Long-Term Growth Potential Amid Short-Term Challenges Justifies Buy Rating
- Procter & Gamble price target lowered to $181 from $200 at Citi
- Procter & Gamble price target lowered to $180 from $190 at BofA
- Procter & Gamble upgraded to Outperform from Sector Perform at RBC Capital
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