Citigroup Expecting Surprises From Procter & Gamble Analyst Day

Citigroup has published a research report on Procter & Gamble PG in anticipation of the company's Analyst Meeting that will be hosted by CEO Bob McDonald. In the report, Citigroup writes "Strategically, we think PG is pursuing the absolutely correct strategies – focus on innovation and marketing to drive global market shares higher (both in places where they already play, and in white space areas where they do not). Financially, we think PG is focusing on balancing its investment choices, so as to deliver consistent HSD annual EPS growth over the long term. While we don't consider PG to be a cheap stock (at 15x our CY11 EPS estimate), we still think it is among the higher quality and more predictable stocks we follow." Citigroup maintains its Buy rating and $69 price target. Procter & Gamble Company closed Friday at $63.20.