JPMorgan Cuts Procter & Gamble (PG) Target to $162 Ahead of Earnings Season
The Procter & Gamble Company (NYSE:PG) is included among the 12 High Dividend Stocks Picked by Billionaire Ray Dalio.
On April 17, JPMorgan analyst Andrea Teixeira lowered the firm’s price recommendation on The Procter & Gamble Company (NYSE:PG) to $162 from $165. It reiterated an Overweight rating on the shares. The firm updated its targets across the household and personal care group ahead of earnings season. The analyst said that companies like SharkNinja, Church & Dwight, and e.l.f. Beauty are likely to deliver the strongest reports on a relative basis. JPMorgan expects investors to focus on customer behavior, cost pressures, and deal activity, according to the research note.
On April 14, Barclays lowered its price goal on Procter & Gamble to $146 from $155. It maintained an Equal Weight rating on the shares. The firm made the change as part of a broader Q1 preview for the consumer staples group. It pointed to “growing caution” going into earnings, driven by higher input costs. In food, the analyst noted “building concerns” about how sustainable dividends are for certain companies.
The Procter & Gamble Company (NYSE:PG) provides branded consumer packaged goods to customers around the world. Its operations span Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The company sells its products in about 180 countries and territories, mainly through mass retailers and e-commerce channels.
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