Procter & Gamble’s Target Cut at Jefferies (PG)

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Consumer products maker The Procter & Gamble Company ( PG ) on Thursday saw its price target lowered by analysts at Jefferies & Co.

The firm maintained its "Hold" rating on PG and cut its price target from $71 to $69. That new target implies a smaller 12% upside to the stock's Wednesday closing price of $61.67.

A Jefferies analyst commented, "We are lowering our PT and 2012E (Jun) EPS est. on near-term pressures, notably commodity inflation not fully offset by price increases. Mgt is targeting another 2H-weighted year, and while we think some new product launches (Tide Pods) could be impactful, the soft start to the year gives us pause."


Procter & Gamble shares fell 97 cents, or -1.6%, in premarket trading Thursday.

The Bottom Line
The stock was recently removed from our recommended list. Shares of Procter & Gamble ( PG ) have a 3.41% dividend yield, based on last night's closing stock price of $61.67. The stock has technical support in the $58-$60 price area. If the shares can firm up, we see overhead resistance around the $64 price level.

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 The NASDAQ OMX Group, Inc.

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