Procter & Gamble: Jefferies raises target price
(CercleFinance.com) - Jefferies has reinstated its "buy" on the Procter & Gamble share, while raising its target price from 166 dollars to 170 dollars, after raising EPS estimates by around 2%-3% for the fiscal years 2021-23 after the consumer goods giant's solid quarterly results.
"P&G's mkt share momentum is building, its "productivity muscle" is enabling substantial investment, FY21 guide is conservative," the broker says in its report on the stock.
The "Co. should see sustainably higher demand from "mega-trends" during/post the C-19 recession," Jefferies adds, which also sees "scope for multiple expansion".
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