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Procter & Gamble Downgraded at Oppenheimer on Weak Outlook (PG)

By Dividend.com,  April 30, 2012, 09:36:13 AM EDT

Consumer products maker The Procter &amp Gamble Company ( PG ) on Monday caught a big downgrade from analysts at Oppenheimer.

The firm said it cut its rating on PG from "Outperform" to "Perform" following PG's disappointing Q1 earnings report last week. from Outperform, Oppeneheimer said. Specifically, Oppenheimer cited the company's mixed results combined with a disappointing near-term outlook for the move.

Procter &amp Gamble shares fell 41 cents, or -0.6%, in premarket trading Monday.

The Bottom Line
Shares of Procter & Gamble ( PG ) have a 3.49% dividend yield, based on Friday's closing stock price of $64.44. The stock has technical support in the $62-$64 price area. If the shares can firm up, we see overhead resistance around the $68-$70 price levels.

The Procter & Gamble Company ( PG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: PG



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