Procter & Gamble: Jefferies downgrades rating
(CercleFinance.com) - Jefferies downgrades its recommendation on Procter & Gamble from 'buy' to 'hold', with a target price lowered by 4% to $175, in a note on the consumer staples group and its peer Colgate-Palmolive - also downgraded to 'hold'.
Personal care and household products (HPC) have outperformed since the start of the year thanks to solid fundamentals, but the broker points out that P&G and Colgate shares are trading at premiums to consumer staples (XLP).
According to Jefferies, the market is paying for better revenue growth and margin expansion, expectations which it sees at risk as consumption slows, demand elasticity weakens and prices fade.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Personal care and household products (HPC) have outperformed since the start of the year thanks to solid fundamentals, but the broker points out that P&G and Colgate shares are trading at premiums to consumer staples (XLP).
According to Jefferies, the market is paying for better revenue growth and margin expansion, expectations which it sees at risk as consumption slows, demand elasticity weakens and prices fade.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.