The Procter & Gamble Company (NYSE:PG) is one of the Best Beaten Down Stocks to Buy According to Hedge Funds. On October 10, JPMorgan reduced the price target on the company’s stock to $163 from $170, while keeping a “Neutral” rating as part of the Q3 preview for the broader household, personal care, and beauty group. As per the analyst, most of such large-cap companies in the group are expected to report another weak quarter amidst depressed consumer demand in the US and decelerating trends for Western Europe.
However, The Procter & Gamble Company had announced a portfolio and productivity plan to emphasize its portfolio and organization to improve the cost structure and competitiveness. The Procter & Gamble Company anticipates incurring non-core restructuring costs of ~$1 billion – $1.6 billion before-tax over the 2-year period. The company plans to incur half of the costs under this plan by FY 2026 end, with the balance incurred in FY 2027.
READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now
This article is originally published at Insider Monkey.
