Consumer products maker The Procter & Gamble Company ( PG ) on Monday caught a downgrade from analysts at BMO Capital.
The firm said it cut its rating on PG from "Outperform" to "Market Perform," and lowered its price target from $74 to $70. That new target still implies an 11% upside over the stock's Friday closing price of $62.84.
Last month, PG reported fiscal second quarter earnings that were roughly in-line with analyst estimates.
Procter & Gamble shares were mostly flat in premarket trading Monday.
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 Friday's closing stock price of $62.84.
The Procter & Gamble Company ( PG ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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