Deutsche Bank Bullish on Restructuring Plans of Procter & Gamble; Backs “Buy” Rating (PG)
On Thursday, analysts at Deutsche Bank reiterated their rating on consumer goods maker The Procter & Gamble Company (PG), citing positive views of P&G’s plans to increase productivity.
The analysts maintained a “Buy” rating on PG and see shares reaching $80. This target suggests a 4% upside to Wednesday’s closing price of $77.08.
“Armed with significant restructuring and productivity savings and tepid sales and EPS growth expectations, company has long runway to reinvest in innovation and price tiers to reclaim lost market share and again grow its categories. While PG and the group have had a big run, we see a combination of organic sales acceleration to expand the multiple and sales leverage, restructuring and productivity savings to boost EPS growth,” said Deutsche Bank analyst Bill Schmitz.
Procter & Gamble shares were down slightly during Thursday morning trading. The stock is up +19.51% over the past year.
The Bottom Line
Shares of Procter & Gamble (PG) have a dividend yield of 2.92% based on Thursday’s intraday trading price of $76.97 and the company’s annualized dividend payout of $2.25 per share.
The Procter & Gamble Company (PG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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