Bank of America (BAC) favors Procter & Gamble (PG)

Procter & Gamble (NYSE: PG) reversed yesterday’s damage by gaining Bank of America’s approval. Bank of America upgraded Procter & Gamble to a ‘Buy’ rating. BMO had downgraded P&G to ‘Market Performer’ category yesterday.

According to Bank of America (NYSE: BAC), this raise is based on the robustness of P&G’s long term strategy. CNBC’s Tim Seymour also put a ‘Buy’ on P& G.

FBR Capital Markets raised its price target for Peabody Energy Corp. (NYSE: BTU) by 21%. Strong demand has been cited as the reason for the raise. Similarly Citi (NYSE: C) has raised its outlook for Domino’s Pizza (NYSE: DPZ) due to encouraging sales trend.