Credit Suisse Sees Strategic Initiatives as On Track for Procter & Gamble Co.

In a report published Monday, Credit Suisse analyst Michael Steib reiterated an Outperform rating and $105.00 price target on

. In the report, Credit Suisse noted, "We hosted a series of PG investor meetings in Europe. Our impression is that PG's various strategic initiatives are all well on-track, but that underlying progress is still overshadowed by external headwinds and some nearer-term execution challenges. We remain comfortable with our estimates (barring any significant further FX moves) which are based on an average 3% organic sales growth and 100bps operating margin improvement by FY16." Procter & Gamble Co. closed on Friday at $85.13.