JPMorgan analyst Andrea Teixeira upgraded Procter & Gamble to Overweight from Neutral with a price target of $155, up from $150. The analyst now thinks consensus estimates are low into the back end of 2023, creating a more positive setup for the shares. Investors will grow back to appreciate the earnings compounding ahead and relative resilience of names like Procter & Gamble, the analyst tells investors in a research note. The firm says capacity constraints in the company’s key divisions including fabric care and feminine care will abate this year.
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Published first on TheFly
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