Raymond James analyst Olivia Tong raised the firm’s price target on Procter & Gamble to $175 from $170 and keeps an Outperform rating on the shares. March quarter results demonstrated PG‘s continued focus on innovation and investment, which allowed for sales and margin upside despite arguably a more volatile macro backdrop, the firm says in a research note on Friday. As Procter & Gamble begins to lap more significant price increases in Q4, Raymond James expects the spread between price and volume to narrow while margin momentum should continue into 2024.
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