Procter & Gamble price target lowered to $169 from $172 at JPMorgan

JPMorgan lowered the firm’s price target on Procter & Gamble to $169 from $172 and keeps an Overweight rating on the shares. The analyst views the setup for the U.S. household and personal care stocks as “still challenging” into the Q3 reports. The firm anticipates sales deceleration on a sequential basis in Q3 virus Q2, saying most companies have lapped the pricing benefit. However, the “dislocation in valuation” presents an opportunity for quality names, the analyst tells investors in a research note.