Duracell, Pringles may be sale targets for P&G: analyst
CHICAGO (Reuters) - Procter & Gamble Co (PG.N) could look to exit businesses such as Duracell batteries, Pringles snacks, pet food and pharmaceuticals, a prominent analyst said on Thursday.
A spokeswoman for the Cincinnati-based consumer products maker declined to comment on rumor or speculation.
Those four businesses do not "neatly fit" with P&G's portfolio strategy, Bernstein Research analyst Ali Dibadj said in a note to clients on Thursday. Earlier this week, he said P&G might look to acquire businesses with a focus on beauty and those offering more exposure to emerging markets such as Asia.
In December, P&G said it might exit the pharmaceutical business, which includes the osteoporosis drug Actonel. In February, sources said the company had hired Goldman Sachs to help it sell its pharmaceutical brands or find other ways to exit the business.
In a July 13 note, Dibadj suggested companies "that may be interesting for P&G to consider," including Kao (4452.T), Shiseido (4911.T) and Estee Lauder (EL.N). Dibadj said he expected P&G to focus on companies under $10 billion in market capitalization. Its recent acquisitions have been small.
Dibadj has a "market-perform" rating and $58 price target on P&G. The company's shares were up 8 cents at $54.73 in early trading.
(Reporting by Jessica Wohl; Editing by Lisa Von Ahn)
