Citi Has Buy Rating On Procter & Gamble (PG)

Citi Investment Research has a Buy rating and a $69 price target on shares of Procter & Gamble Co PG. In a note sent to clients, Citi writes, "While PG's plan to expand its business into new markets will likely prevent it from being one of the fastest EPS growth stories in the group (as reinvestment needs will be high), we also think this strategy will ensure PG's ability to grow its business in a high quality and balanced way for a longer period of time. With the stock trading at 15x our CY11 EPS, we maintain our Buy rating." Shares of PG gained 86 cents yesterday to close at $64.50, a gain of 1.35%.