Procter & Gamble price target raised to $147 from $139 at Stifel

Stifel analyst Mark Astrachan raised the firm’s price target on Procter & Gamble to $147 from $139 and keeps a Hold rating on the shares. P&G’s Q2 results were mixed, reflecting less cost/FX pressures and incremental pricing, and Astrachan thinks shares are trading near fair value at current levels, the analyst tells investors in a research note. He continues to model FY23 organic sales growth at the high-end of 3%-5% expectations, though more difficult comparisons are likely to result in a deceleration in 2H relative to 1H levels.