Список проголосовавших за комментарий " <table class="BriefingDataTable" border="0" cellspacing="0" cellpadding="0"><tr> <td class="tickerColumn"> </td> <td class="articleColumn">Procter & Gamble downgrade details — to Neutral at B. Riley & Co.; tgt lowered to $91 (90.50)B. Riley & Co. downgrades PG to Neutral from Buy and lowers their tgt to $91 from $106 noting the stock is +11% from its Dec. 1, 2016 low, outpacing the S&P 500 (+9%), but fundamentals have weakened. With the recent slowing of PG's global category growth from ~3% to ~2% and planned double-digit price cuts in U.S. blades & razors in F4Q17, growth prospects have dimmed for F2H17, and firm thinks PG's multiple could contract if it reports lackluster organic sales growth of 1%-2% in F2H17. Moreover, the CFO has started to say that PG will not cut investment to maintain its mid-single digit EPS growth guidance for FY17. Without a 3% top-line growth quarter in F2H17, <strong>firm does not believe PG can achieve a 24.5x P/E, which exceeds the 3-year range of 15.8x-22.3x, so they are cutting target multiple from 24.5x to 21.0x, their tgt, based on 21.0x CY18E EPS of $4.31 (reduced from $4.32) and their rating.</strong> They still have confidence in CEO Taylor's strategy to improve top-line growth and they could re-evaluate on a price pull-back and/or if prospects for re-acceleration improve.</td> </tr></table>"