Procter & Gamble’s products include Crest toothpaste.
Tiffany Hagler-Geard | Bloomberg | Getty Images
Investors should reduce oversized positions Procter & Gamble ahead of difficult spring and summer quarters, Citi said in a note to clients.
The bank downgraded the consumer staples giant to neutral after getting a strong earnings report and also lowered its price target for the share.
Procter & Gamble declared the results for the third quarter of the fiscal year Tuesday morning, posting earnings of $ 1.26 per share and $ 18.11 billion in revenue. Analysts polled by FactSet expected earnings per share of $ 1.19 and revenue of $ 17.96 billion.