Procter & Gamble Company Stock Forecast:
According to 19 analysts, the average target price for Procter & Gamble Company stock over the next 12 months is USD 157.59, and the company’s average analyst rating is Strong Buy. Stock Target Advisor’s analysis of the company’s stock is also Bullish, based on 11 positive signals and 3 negative signals. The company’s stock price at the last closing was USD 156.07, and it has increased by +3.36% over the past week and +8.54% over the past month, but decreased by -3.21% over the last year.
Analysts Coverage Change:
RBC Capital Markets (Rank#3), the investment banking arm of Royal Bank of Canada, recently announced that it has raised its target price on Proctor and Gamble (P&G)’s stock from USD 160 to USD 165. Despite maintaining its “Sector Perform” rating, the move signifies a positive outlook for the consumer goods giant.
P&G is a multinational consumer goods corporation headquartered in Cincinnati, Ohio. The company has a diversified portfolio of products that includes popular household brands like Tide laundry detergent, Pampers diapers, and Gillette razors, among others. P&G has a long-standing reputation for being a reliable stock, often used as a benchmark for the consumer goods industry.
RBC Capital Markets cited several reasons for its optimistic outlook on P&G. Firstly, the company’s portfolio of household products has benefited from increased demand during the COVID-19 pandemic. As people spend more time at home, they are buying more cleaning supplies and personal hygiene products. This trend is still continuing, now that the pandemic is essentially over, as people become more conscious of the importance of cleanliness and hygiene.
Secondly, P&G has been successful in its cost-cutting efforts, which have helped to boost profits. The company has implemented a range of measures to reduce expenses, including streamlining its supply chain and reducing advertising costs. These efforts have helped to improve P&G’s profit margins, which is an attractive factor for investors.
Lastly, P&G has a strong track record of returning value to its shareholders through share buybacks and dividend payments. The company has consistently increased its dividend for over 60 years, making it a “Dividend Aristocrat.” This has helped to make P&G a popular stock for income-oriented investors.
While RBC Capital Markets maintained its “Sector Perform” rating on P&G, the increase in the target price is a positive signal for investors. The target price represents a 3% upside from the current market price, indicating that the analysts believe there is still room for growth in the stock.
