Bernstein analyst Callum Elliott maintained a Hold rating on Procter & Gamble (PG – Research Report) yesterday and set a price target of $165.00.
Geoff Meacham has given his Hold rating due to a combination of factors surrounding the operational strategies and management team of Procter & Gamble. His time spent in Cincinnati with P&G’s senior management, including CEO Jon Moeller and CFO Andre Schulten, provided deep insights into the company’s consistent focus on its superiority strategy. This strategy, which has been a key message from the company for years, is thoroughly integrated across all aspects of P&G’s operations and is a cornerstone of the company’s sustained outperformance in its categories. Meacham came away from these meetings with reinforced confidence in the company’s clear and unified strategic direction.
Furthermore, the emphasis on productivity was evident throughout the discussions and appears to be almost as central as the superiority narrative. Meacham has grown to understand the intrinsic link between productivity initiatives, such as Supply Chain 3.0 and the funding of their superiority agenda, with P&G’s long-term financial goals. Additionally, the strength of P&G’s management succession planning has mitigated concerns over potential disruptions from leadership changes, particularly highlighting COO Shailesh Jejurikar as a strong future leader. Despite these positive aspects, Meacham maintains a Market-Perform rating for P&G with a Target Price of $165, indicating that while the company is on solid ground, its current valuation is adequately reflective of its prospects.
In another report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $157.00 price target.
PG’s price has also changed slightly for the past six months – from $153.210 to $157.510, which is a 2.81% increase.
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Procter & Gamble (PG) Company Description:
Procter & Gamble Co. manufactures and sells branded consumer packaged goods across five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. Some of the popular brands owned by the company include Head & Shoulders, Pantene, Olay, Gillette, Oral-B, Vicks, Ariel, Tide, Pampers, Luvs and Bounty. The company was founded by William Procter and James Gamble in 1837 and is headquartered in Cincinnati, OH.
Read More on PG:
- P&G says Turkey facility evacuated for ‘urgent security situation’
- Procter & Gamble staff in Turkey taken hostage, Demiroren News says
- Procter & Gamble price target raised to $160 from $155 at Truist
- Procter & Gamble Issues $1.35B in Public Offering Notes
- Procter & Gamble price target raised to $165 from $155 at Bernstein
