Procter & Gamble Upgraded to “Buy” at Goldman Sachs (PG)

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Consumer products maker The Procter & Gamble Company ( PG ) caught a big upgrade on Friday from analysts at Goldman Sachs.

The firm said it boosted its rating on PG to "Buy" and sees 25% upside to its $75 price target. It also expects a return to double-digit EPS growth in 2011.

A Goldman analysts commented, "P&G has been in investment mode for 2 years, raising its ad budget, lowering price points and building EM presence. EPS and shares have been flat as a result, but we see inflection point in 2011 as P&G gets a return on its investments."

Procter & Gamble shares rose 53 cents, or +0.8%, in premarket trading Friday.

The Bottom Line
We have been recommending shares of Procter & Gamble ( PG ) since Sept.1, 2009, when the stock was trading at $54.11. The company has a 3.07% dividend yield, based on last night's closing stock price of $62.87.

The Procter & Gamble Company ( PG ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 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 Nasdaq, Inc.

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This article appears in: Investing , Stocks


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