Procter & Gamble Downgraded to “Neutral” at Bank of America (PG)

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Consumer products maker The Procter & Gamble Company ( PG ) 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 ( PG ) 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 ( 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.

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