Morgan Stanley raised the firm’s price target on Procter & Gamble to $191 from $174 and keeps an Overweight rating on the shares. The firm thinks the key debate after a relatively in line Q1 with “muted but unsurprising” organic sales growth, but slight EPS upside on below the profit line items, will be where P&G organic growth sustainably lands. Citing “solid execution” and easing comparisons ahead, particularly in China and the Middle East, the firm says it is “comfortable” with an Overweight rating as it expects organic sales growth to rebound.
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