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Citigroup lowers EPS estimates for Procter & Gamble
March 15, 2011
By: TOM BRANNA
Editor
Sometimes, being a multinational can cause multiple problems. With the disaster in Japan and unrest in the Middle East, Citigroup has lowered its earnings per share estimates on Procter & Gamble Co. stock but maintained its “buy” rating with a $69 target price. Analyst Wendy Nicholson cited several factors that contributed to lower expectations for the remainder of P&G’s fiscal 2011 (June) and in fiscal 2012: higher oil prices, lower sales in the Middle East, North Africa and J...
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