Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Banc of America Boosts P&G to Buy


Banc of America upgraded Procter & Gamble (PG) to buy from market perform.

Analyst William Steele says the upgrade is based on solid improvement in P&G's cash flow and market share metrics. He says given the tangible evidence of a turnaround, he believes shares are attractively valued. Steele notes shares are selling at 21.5 times his $3.23 calendar 2001 EPS estimate, very close to the S&P multiple of 21.6 times. He believes that as P&G's turnaround becomes more evident to investors and as volumes improve, then projects shares could ultimately trade at a 20% premium to the S&P 500. Thus, Steele set an $85 target


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus