JPMorgan Increases P&G Price Target to $165 While Maintaining Neutral Rating

JPMorgan raised its price target on Procter & Gamble (PG) to $165 from $163 while maintaining a Neutral rating. The firm updated its financial model after the company's fiscal first-quarter 2026 results, noting that P&G's outlook appears conservative. PG posted net earnings of $4.8 billion and operating cash flow of $5.4 billion, with adjusted free cash flow productivity standing at 102%. The company returned $3.8 billion to shareholders during the quarter, including $2.55 billion in dividend payments and $1.25 billion in share buybacks. PG is a reliable choice for income-focused investors with a dividend yield of 2.79% as of October 27.