JPMorgan analyst Andrea Teixeira raised the firm’s price target on Procter & Gamble to $172 from $164 and keeps an Overweight rating on the shares. The analyst thinks the company’s fiscal Q4 results and initial fiscal 2024 guidance “will continue to fuel the stock momentum.” The firm sees further upside risk to estimates in particular for margins, even after Friday’s stock rally. JPMorgan says Procter & Gamble will continue to represent a core holding for investors looking to invest in staples.
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