India's P&G Hygiene rises after brokerage begins coverage with "buy"

Procter & Gamble Hygiene and Health Care

23/06/2023 09:39

** Shares of Procter & Gamble Hygiene and Health Care
 PROC.NS  rise 2.56% and last trading with ~2% gains
    ** Brokerage Nirmal Bang begins coverage of stock with "buy"
and PT of 16,600 rupees, an upside of ~18.3% to last close of
14,033.10 rupees
    ** Expects ~700 bps EBITDA margin expansion over the next
two years, leading to ~32% EPS CAGR over FY23E-FY25E
    ** Adds long term topline and earnings growth potential of
PROC is superior than other consumer sector peers
    ** Stock on track for a third consecutive session of gain,
if trends hold
    ** One analyst rates stock "strong buy" and one "hold;"
median PT is 15,825.00 rupees - Refinitiv data
    ** Including session's gain, stock cuts YTD loss to 1.6%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))