RBC Capital analyst Nik Modi upgraded Procter & Gamble to Outperform from Sector Perform with a price target of $177, up from $164. While the company’s quarter had its challenges, “this was a clearing event,” materially cutting numbers while protecting investments needed for sustainable long term growth, the analyst tells investors in a research note. The firm thinks investors should take advantage of Procter’s share pullback, “especially in this market.” RBC believe s the company’s revised guidance embeds assumptions that are realistic and achievable.
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