Evercore ISI upgraded Procter & Gamble (PG) to 'outperform' from 'in line'. The firm raised its price target to $166 from $161. This new price target suggests a potential upside of about 14% from the stock's previous closing price. Evercore ISI cited improving execution in the U.S. and stabilizing sales volumes for the upgrade.
Analysts at Evercore ISI noted P&G's upcoming first-quarter results could signal an end to downside risk for the company's sales. They pointed to recovering market share in key categories. Analysts also cited the growing contribution of higher-margin brands, including Olay, Downy, and Dawn. Evercore highlighted P&G's improved online performance. The company is no longer losing its online market share in the U.S.