Wednesday, 13 July 2011

Procter & Gamble downgraded to 'hold'

A weak outlook for earnings growth caused analysts at Jefferies & Co. to lower the rating on Procter & Gamble Co. while also cutting the view of the stock?s prospects.

Jefferies dropped its opinion on P&G?s stock from ?buy? to ?hold.? At the same time, it lowered its target on the stock price from $75.50 to $71.

The new target is a 10 percent increase from Monday?s closing price for P&G (NYSE: PG) stock of $64.72

The stock is cheaper than usual compared to things like earnings, Jefferies...

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