Stifel raised the firm’s price target on Procter & Gamble to $157 from $155 and keeps a Hold rating on the shares. The firm raised its FY24 and FY25 EPS estimates following EBIT upside in Q2 that was driven by gross margin above consensus. The firm anticipates gross margin expansion to continue, but at a lesser rate on a year-over-year basis in the second half of FY24 as benefits from pricing and commodities lessen, the analyst tells investors.
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