Oppenheimer Has Outperform Rating On Procter & Gamble (PG)

Oppenheimer & Co. has a Outperform rating and a $70 price target on shares of Procter & Gamble PG. In a note sent to clients, Oppenheimer writes, "PG management provided a bullish outlook at the company's Analyst Day in Cincinnati Thursday, outlining both its sales growth and margin expansion opportunities while also reaffirming guidance. We continue to be bullish on the shares and reiterate our Outperform rating and $70 DCF derived target price, as we believe PG is well positioned to deliver continued healthy top-line growth and improving bottom-line growth over the next few quarters, driven by robust innovation and cost savings, while valuation remains attractive." Shares of PG gained 86 cents yesterday to close at $64.50.