Information Provided By:
Fly News Breaks for April 20, 2018
PG
Apr 20, 2018 | 09:22 EDT
As reported earlier, Argus analyst John Staszak downgraded Procter & Gamble to Hold from Buy, saying organic growth has not improved to the expected extent even after the company spun off its Beauty and other businesses in recent years. Staszak adds P&G continues to lose market share to "fierce" competition, while its margin expansion has also slowed. The analyst sees the current valuation multiple of 17.7-times his FY18 EPS view as fair, but adds he would consider a more constructive stance if organic growth accelerated.