Stocks
RBC Capital Sticks with Outperform Rating on Procter & Gamble
RBC Capital has reaffirmed its Outperform rating on Procter & Gamble stock () with a $167.00 price target.
The firm noted that P&G's U.S. weighted aggregate market share improved sequentially by 25 basis points for the September quarter-to-date period ending August 9, compared to a decline of 9 basis points in the June quarter.
The improvement was driven by sequential gains in Baby Care, Fabric Care, and Hair Care categories. However, Family, Grooming, and Oral Care segments remain challenged.
RBC Capital stated that market share trends tend to drive P&G's relative share price performance and believes the company is at an important point of positive inflection.