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JPMorgan downgrades Procter & Gamble as worries grow over consumer spending

JPMorgan downgrades Procter & Gamble as worries grow over consumer spending

JPMorgan is moving to the sidelines on Procter & Gamble ahead of its fiscal fourth-quarter earnings report next Tuesday. The bank downgraded shares of the consumer goods manufacturer to a neutral rating from overweight, citing expectations of “another lackluster quarter and normalization of category growth.” Analyst Andrea Teixeira’s price target of $170 per share, down…

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