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