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Wednesday, Sep 11
SunTrust shys away from Procter & Gamble
- Procter & Gamble (PG -0.5%) is taken down to Neutral from Buy by SunTrust as the firm becomes uncomfortable with the top-line growth potential at P&G.
- Analysts with Suntrust also join the crowd questioning the decision by the company to sell a lower-priced version of Tide to consumers. The complaint is that the move has the potential to chip away at Tide's long-time brand status.
- Perhaps not on the scale of Coca-Cola's disastrous New Coke experiment in the 1980s, but Procter & Gamble's adventure with "new" Tide bears watching.