Procter & Gamble: Jefferies raises target price

(CercleFinance.com) - Jefferies reinstates its "buy" rating on Procter & Gamble shares, with an increased target price of $164 (vs.
$149), on the back of a higher market multiple, after the consumer staples group's CMD.

"Building on the co.'s successful turnaround, the day offered P&G a chance to showcase its talented/diverse business leaders and amplify four key focus areas (supply, sustainability, digital acumen, human capital)," analysts said.

"While trade down remains a risk, P&G remains a core holding w/ shares at 24x P/E (< 5% discount to (personal and household care) peers," the broker adds.


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