In Feb, I wrote this article for Proctor & Gamble. I mentioned that When the next quarter result comes out, the market might be leak out a chance for patient buyers to go in. I still think $63 or lower is a good entry point. Currently, the market price is lower than $63, which render a very good opportunity for long term investors.
The reason for current price drop is mainly as following:-
"Wednesday, June 20, 5:21 AM P&G cuts FQ4 guidance, citing slower-than-expected growth in developed markets and forex fluctuations. P&G forecasts adjusted EPS of $0.75-$0.79, vs. prior guidance of $0.79-$0.85 and consensus of $0.82. Net sales to fall 1%-2% vs. +1%-2% prior. For FY 2013, P&G predicts a percentage increase in profits of flat to mid-single-digits. (PR)"
This article provided very good analysis for PG.
Disclosure: I am long PG.
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