In a report released on October 24, Bonnie Herzog from Goldman Sachs maintained a Hold rating on Procter & Gamble, with a price target of $160.00.
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Bonnie Herzog has given her Hold rating due to a combination of factors surrounding Procter & Gamble’s recent performance and market conditions. Despite a slight beat in their first fiscal quarter earnings, with organic sales growth driven by pricing and mix, the overall volume growth remained flat. This indicates a cautious consumer environment and increased competition, which may pose challenges for sustained growth.
Additionally, while Procter & Gamble’s management has maintained its fiscal year guidance, the wide range of expected growth reflects uncertainty in the macroeconomic environment. The company’s ability to achieve its targets will depend on various factors, including consumer willingness to pay premium prices and the impact of foreign exchange and acquisitions. These elements contribute to a balanced view, justifying the Hold rating as the stock’s potential upside appears limited given the current market dynamics.
In another report released yesterday, Evercore ISI also maintained a Hold rating on the stock with a $170.00 price target.
Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PG in relation to earlier this year.