Wells Fargo backs off bullish view of Procter & Gamble

Wells Fargo downgrades Procter & Gamble (PG) to Market Perform from Outperform and reduces estimates for FQ4 and fiscal years 2015-2016.

The investment firm hasn't seen the fundamental forward progress that it expected and has lost some faith that growth drivers will fire up.

PG -0.5% premarket

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Comments (4)
  • Bustera
    , contributor
    Comments (8) | Send Message
    Give me a break. P&G's previous quarterly results were primarily related to currency trade issues not how the business is performing; they seem to be hitting on all cylinders. Given that they are trading at about 8% below their peers on a PE basis, I don't understand the "market perform" result. P&G should be at $87 today and I'll bet when they report in three weeks the new target will be over $90.
    11 Jul 2014, 12:43 PM Reply Like
  • California Dividend Bull
    , contributor
    Comments (211) | Send Message
    PG's intrinsic value I use is closer to $100 and it is downright #1 on my pre-screening list of DGI stocks. Why should I as a long term (i.e. forever) investor care what some bored eval team comes up with between breakfast and brunch...
    11 Jul 2014, 01:00 PM Reply Like
  • Just Some Guy
    , contributor
    Comments (2446) | Send Message
    Market perform, depending on how you think the market will perform.
    11 Jul 2014, 04:08 PM Reply Like
  • maybenot
    , contributor
    Comments (6718) | Send Message
    Ah come on Wells Fargo, just a "Market Perform?" I wanted a "Neutral." I want more 'bad news' for PG.


    That ain't enough.


    Long PG (and wanting to add more)
    11 Jul 2014, 07:56 PM Reply Like
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