Procter & Gamble (PG) is an oversold blue-chip giant.
With a yield of 2.56%, the consumer goods company is oversold at $157.29. It’s also over-extended on RSI, MACD, and Williams’ %R and is just starting to pivot higher. Initially, I’d like to see the PG stock retest its prior high and push to at least $170 near term.
It also just raised its quarterly dividend to $1.0065, a 7% jump from its prior dividend of $0.9407. It’s payable on May 15 to shareholders of record as of April 19.
Analysts at Deutsche Bank also raised their price target to $172 with a buy rating. The firm says “year-to-date consumption trends for Procter remain solid in tracked channels. The firm sees little risk to near-term earnings numbers given the company’s ongoing productivity momentum and relative cost favorability,” as noted by TheFly.com.
