Procter & Gamble price target raised to $185 from $180 at Argus

Argus analyst Chris Graja raised the firm’s price target on Procter & Gamble to $185 from $180 and keeps a Buy rating on the shares. The analyst cites the company’s Q3 earnings beat while noting that its innovative products have allowed Procter & Gamble to raise prices to offset inflation, even as some customers trade down to store brands or to less expensive brands within the P&G portfolio. The firm is also positive on the company’s record of dividend growth, noting that the management’s 7% dividend hike in April showed confidence in future performance.