Yesterday, Procter & Gamble Co (NYSE: PG) reported first-quarter FY24 sales and EPS above the street view.
Analysts from Morgan Stanley, Stifle and Raymond James gave their opinions of the results.
Morgan Stanley: Maintains Overweight Rating And $174 Price Target
The company maintaining FY EPS guidance was better than the analyst Dara Mohsenian expected, with PG swallowing a 3% FX and 1% tax rate EPS hit and still pointing toward the high-end of its prior guidance.
The analyst notes PG's conference call tone was positive, pointing to sequential volume improvement excluding a soft China, strengthening PG sequential share trends, and an unchanged promotional/tradedown environment despite consumer pressure.
The analyst sees FY24 visibility as high with assumed ...