Consumer products maker The Procter & Gamble Company (
) on Thursday saw its rating and price target cut by analysts at
Bank of America.
The firm said it downgraded PG from "Buy" to "Neutral" while
cutting its price target from $74 to $67. That new target suggests
a 7.5% upside to the stock's Wednesday closing price of $62.34.
Procter & Gamble shares, which are down 3% year-to-date,
fell 24 cents, or -0.4%, in premarket trading Thursday.
The Bottom Line
Shares of Procter & Gamble (
) have a 3.37% dividend yield, based on last night's closing stock
price of $62.34. The stock has technical support in the $58-$60
price area. If the shares can firm up, we see overhead resistance
around the $64-$67 price levels.
The Procter & Gamble Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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