New York, August 7 (FinanceEnquiry.com) – Analysts at Bank of America reiterate BUY ratings on the shares of Procter & Gamble (NYSE: PG). The 12-month price objective has been raised from $67 to $71.
In a research note published yesterday, the analysts state that PG has added $4 billion in buybacks for FY13 and is now expecting commodity pressures to be around $200 million, lower than expected previously.
PG has delivered 240 basis points of savings in Q4 and is running ahead of schedule on headcount reduction. The Q1 organic sales outlook has been 0-2 percent and suggested an acceleration in Q2-Q4. It depends on time whether PG can raise material change in the business or whether the prospect of activism is a motivating factor, though macros have been no more disproportionately damaging results, marketing is moving higher and savings might start to materialize, the analysts say.
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