Procter & Gamble Got To Get The Groove Back: Deutsche Bank
Monday, January 30, 2022 3:17 PM

Deutsche Bank (DB) maintained its "Buy" rating on Procter & Gamble Co. (NYSE:PG), with a price target of $70 on the stock.

"With beauty business and marquis brands Pantene and Olay under sustained growth pressure, high margin US business struggling and recent volume driving reinvestments providing little sustainable boost to the business, the natives at P&G and the investors that support them are getting restless," the bank wrote in a note.

Still, DB said it sees a sales and margin upside opportunity at a reasonable valuation for a stock that has been stuck in a range and can provide 10% TSR over next 12 months from share repo, dividend yield and modest EBIT growth off low base.

Shares of PG are down 1.5% to trade at $63.29 on Monday.