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Fly News Breaks for April 27, 2015
PG
Apr 27, 2015 | 08:16 EDT
As previously reported, CLSA downgraded Procter & Gamble to Underperform from Outperform and lowered its price target to $81 from $90. The firm expects Procter & Gamble to continue to struggle with pricing in key international markets due to currency headwinds and said competitors are using FX tailwinds to promote new products. Additionally, CLSA said Procter & Gamble's brand divestiture program is a positive step to boost returns but is well anticipated by the market and likely dilutive.
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