Procter & Gamble: Jefferies still a buyer, raises TP
(CercleFinance.com) - Jefferies reinstates its "buy" recommendation on the Procter & Gamble share, having raised its target price from 140 dollars to 148 dollars, in the wake of 2021-22 EPS estimates raised by approximately 2%-3% for the personal care and household product giant.
Ahead of its fourth quarter results, due out on 30 July, the broker expects organic sales growth of 4%, along with EPS of 1.04 dollar, highlighting strong demand in the US and a recovery in China.
"In addition, we continue to see PG as a beneficiary of COVID-19 mega-trends, such as at-home, on-line and health & hygiene," Jefferies continues, which also points out a P/E of 23.5x, representing a discount of around 10% to its peers.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Ahead of its fourth quarter results, due out on 30 July, the broker expects organic sales growth of 4%, along with EPS of 1.04 dollar, highlighting strong demand in the US and a recovery in China.
"In addition, we continue to see PG as a beneficiary of COVID-19 mega-trends, such as at-home, on-line and health & hygiene," Jefferies continues, which also points out a P/E of 23.5x, representing a discount of around 10% to its peers.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.