J.P. Morgan Reiterates Neutral Rating on Procter & Gamble (PG)

J.P. Morgan is out with a research report this morning, where it reiterates its Neutral rating on Procter & Gamble PG; it has a $73.00 price target on the stock. The JPM analysts said that they expect a positive tone from Procter at their analyst meeting this week, as they highlight their return to market share growth, which they believe leaves them better positioned globally. PG should also provide some details on how they'll continue to gain share as price/mix goes positive, and spending growth lessens. The analysts noted that, in order for Procter to post 4-6% organic sales growth for the year, the company's top line probably needs to accelerate sequentially in 2H, despite much more difficult comps.