Bernstein Raises P&G Stock Price Target Amid Marketing Shift

Procter & Gamble's (NYSE:PG) stock price target has been raised by Bernstein SocGen Group to $149.00 from $148.00, while maintaining a Market Perform rating.

The firm noted that P&G spent $53.1 billion in marketing between 2021 and 2026 to sustain consumption levels, with an average annual growth of 4.5% despite flat volumes.

Bernstein stated that sustaining historical levels of marketing effectiveness is becoming more challenging, and improving media return on investment has become necessary for unlocking growth without compressing profit margins.

The transition from linear TV to social media has not fully happened and will continue to play out over the next several years, according to Bernstein.