What to Expect From The Procter & Gamble’s Upcoming Q1 Results?

Deutsche Bank analysts shared their outlook on The Procter & Gamble Company (NYSE:PG) ahead of the upcoming Q1 earnings report and slightly lowered their price target to $155 from $157 while maintaining their buy rating. The analysts approach Q1 results more conservatively than the Street (especially on gross margin) given expected cost, FX, and mix pressures.

Moreover, while the analysts expect the company to more or less maintain its underlying full-year guidance assumptions (including over 3-5% full-year organic growth), they see stronger dollar conditions perhaps leading to a roughly -2-point reduction in full-year EPS.

However, the analysts also believe buy-side sentiment already reflects these downward leanings, with the bar for Q4/22 organic growth seemingly settling at over 5%.