Analyst Bonnie Herzog of Goldman Sachs maintained a Hold rating on Procter & Gamble (PG – Research Report), boosting the price target to $165.00.
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Bonnie Herzog has given his Hold rating due to a combination of factors observed during investor meetings with Procter & Gamble’s management team. The management expressed optimism about the company’s long-term growth trajectory, emphasizing their focus on achieving irresistible superiority and increasing market share despite challenging market conditions.
However, Herzog noted concerns about increasing pressures in the short term, such as slowing end market demand, growing market volatility, and potential retailer destocking. Despite these hurdles, the management remains confident in their ability to quickly adapt and navigate through these challenges. The discussions also highlighted Procter & Gamble’s strong innovation pipeline, with new products like Tide EVO showing promising performance, and the US market being identified as having significant growth potential across all categories.
PG’s price has also changed slightly for the past six months – from $168.800 to $162.890, which is a -3.50% drop .