J.P. Morgan Reports Procter & Gamble FQ3 and 2012 EPS Trimmed

According to J.P. Morgan, Procter & Gamble's PG FQ3 and 2012 EPS is being trimmed. J.P. Morgan reported that although it thinks that PG should be able to deliver EPS within their guidance range in FY11, thus far the outlook for FY12 is dimmer than initially anticipated. “We think consensus for FY12 of $4.35, which implies 9-10% YOY growth, is likely too high, in light of weak category trends (although better than in FQ2), turmoil in the Middle East and Japan, elevated competitive pressures, and rising input costs.” Procter & Gamble closed yesterday at $62.13.