Evercore ISI Upgrades Procter & Gamble Amid Signs of Recovery
Procter & Gamble (PG) has been underperforming the broader market, but Evercore ISI analysts believe a turnaround is on the horizon. The firm upgraded its rating for PG to 'outperform' from 'in line,' raising its price target to $166 from $161—suggesting about 14% upside based on recent share prices. Analyst Robert Ottenstein highlighted that Procter's initiatives are addressing value gaps and improving top-line growth, particularly in the U.S., with high-margin brands like Olay and Downy now driving more sales than Pampers. Despite a challenging environment marked by higher tariffs, soft consumer demand, and competition, PG shares have risen 2% year to date. Evercore ISI noted that Procter's U.S. category volumes are stabilizing and its promotional strategies remain targeted—helping protect pricing power. The firm’s optimistic outlook contrasts with the broader analyst consensus, where only a minority of analysts currently rate the stock as 'buy' or better.
Tickers: $PG
Topics: analyst call price target increase Procter & Gamble stock upgrade