Procter & Gamble will likely outperform its peers as a result of its improving volume numbers and a normalized macroeconomic environment, Truist Securities analysts say in a research note. The consumer goods giant’s return to volume growth in the latest quarter, excluding China, signals enterprise-level volume recovery in the coming quarters. “With minimal pricing expected in 2024, we believe investor focus has already turned to organic volume growth,” the analysts say. Truist raises the stock to buy from hold, and raises its target price to $175 from $160 previously.