Procter & Gamble’s (PG) fundamental performance will stand out across its peer group as the manufacturer of consumer goods gears up to report its earnings this coming Wednesday, analysts at UBS said in a note issued Monday.
Since outlining its initial guidance for fiscal 2024, which includes 3% to 4% in all-in sales growth and $6.25 to $6.43 in earnings per share, the Cincinnati, Ohio-based company has faced headwinds in the form of unfavorable foreign exchange rates, rising oil costs, and lower-than-expected recovery in China.
Still, pressure from these headwinds is expected to be more than offset by underlying performance in both the US and Europe, analysts said.
UBS’s price target on the company’s stock remains unchanged at $168 per share with a Buy rating.