RBC Capital analyst Nik Modi raised the firm’s price target on Procter & Gamble to $167 from $165 but keeps a Sector Perform rating on the shares. The company reported “another impressive quarter”, overdelivering on the top and bottom lines while expanding margins, reinvesting, and displaying sequential volume improvement with momentum heading into FY24, the analyst tells investors in a research note, adding however that the earnings upside also comes with “continued reinvestment and higher interest expense”.
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