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Fly News Breaks for April 20, 2018
PG
Apr 20, 2018 | 06:12 EDT
As previously reported, BofA/Merrill downgraded Procter & Gamble to Neutral from Buy and cut its price target to $82 from $90. Analyst Olivia Tong said sales and margin are being pressured by "intense" competition in its largest categories and countries, and from aggressive behavior by retailers as consumers purchase more goods online. Tong believes pricing pressure could be long lasting as retailers give increased support to the value tier and restocking and does not see a near-term catalyst to drive shares higher.
News For PG From the Last 2 Days
