Procter & Gamble price target lowered to $180 from $190 at BofA

BofA analyst Bryan Spillane lowered the firm’s price target on Procter & Gamble to $180 from $190 and keeps a Buy rating on the shares. The firm’s key takeaway from P&G’s Q3 results is that the underlying business continues to perform well despite tariff impacts, the analyst tells investors. Given the stock’s reaction on April 24, the firm believes the market is pricing in “a worst-case scenario on tariffs,” though P&G anticipates these are possible to mitigate through favorable foreign exchange, declining commodity costs, and pricing/innovation, the analyst added.