Consumer products maker The Procter & Gamble Company (PG) late Wednesday received a big downgrade from analysts at Hilliard Lyons.
The firm said it downgraded PG from “Long-Term Buy” to “Neutral” and suspended its $77 price target. That target had assumed a nearly 28% upside to the stock’s Wednesday closing price of $60.39.
The analyst move follows P&G’s lowered earnings guidance on Wednesday.
Procter & Gamble shares posted modest gains in premarket trading Thursday.
The Bottom Line
Shares of Procter & Gamble (PG) have a 3.73% dividend yield, based on last night’s closing stock price of $60.39. The stock has technical support in the $58-$60 price area. If the shares can firm up, we see overhead resistance around the $64-$66 price levels.
The Procter & Gamble Company (PG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.