BMO Capital Markets Downgrades Procter & Gamble, Notes Concerning Foreign Exchange Rates - Procter & Gamble (NYSE:PG)

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

In a report published Thursday, BMO Capital Markets Connie Maneaty downgraded shares of

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Procter & Gamble Co

(NYSE: PG) to Market Perform from Outperform with a price target lowered to $84 from a previous $100, primarily due to revisions tied to foreign exchange.According to Maneaty, the company will miss its fiscal 2015 outlook, given the fact that 65 percent of its total sales are international. The analyst noted that the company's international sales are skewed towards markets with the most currency weakness, including the euro zone, Brazil and Russia.Meneaty continued that Procter & Gamble has already stated it has been unable to raise prices in key markets (including Japan and Europe) due to competitive and economic dynamics while its hands are tied in Venezuela (two percent of total sales) and Argentina (around one percent of total sales) due to government-instituted price controls.