智通财经APP获悉,摩根大通在消费品巨头宝洁公司(PG.US)下周发布第四财季财报前,将其评级从“增持”下调至“中性”。分析师安德里亚·特谢拉表示,摩根大通此举是出于观望考量,因为团队认为,由于所在品类增长放缓,宝洁未来几个季度的有机销售额增长仍将疲软。
从积极方面来看,摩根大通认可宝洁管理层在核心品类中保持领先增长的能力,同时认为其近期宣布的效率提升计划有望带来上行空间。不过,目前该股的多空因素已趋于平衡。
值得注意的是,宝洁已明确提及美国和欧洲市场的基础消费疲软,加之此前已充分披露其他地区因中东冲突面临的挑战,短期内复苏时间线仍不明朗。
摩根大通为宝洁设定的2026年12月目标价为170美元,该定价基于市盈率23.6倍与企业价值/息税折旧摊销前利润15.6倍各占50%的综合测算。
截至发稿,周五盘前交易中,宝洁股价下跌0.8%。该公司定于7月29日发布财报,分析师预计其营收将达209亿美元,每股收益为1.42美元。宝洁在过去九个季度的财报中均超出每股收益预期。
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