Procter & Gamble price target raised to $165 from $160 at RBC Capital

RBC Capital analyst Nik Modi raised the firm’s price target on Procter & Gamble to $165 from $160 but keeps a Sector Perform rating on the shares. The company reported an "impressive quarter", delivering on the top and bottom lines while expanding margins, reinvesting and improving volumes, the analyst tells investors in a research note. P&G remains one of the best-positioned CPG companies to deal with the volatility of the current environment, but with the stock up 8% over past four weeks, its valuation looks fair, RBC added.