Jim Cramer Says Procter & Gamble Stock is "Still Way Too High"

The Procter & Gamble Company (NYSE:PG) is one of the stocks Jim Cramer shared insights on. Cramer said the stock is not “weak enough,” as he commented:

“I didn’t include Procter & Gamble and Johnson & Johnson, both amazing companies, but their stocks, while weaker today, they’re not weak enough. They’re still way too high.”

The Procter & Gamble Company (NYSE:PG) markets a wide range of branded consumer goods, including beauty, grooming, health care, fabric and home care, and baby, feminine, and family care. Cramer discussed the company in a July episode. He said:

“Sometimes you get these days where it feels like the market has returned to some semblance of what you’re used to when things get shaky. I mean, these are the days when… Procter & Gamble has a big run… I think you’d be coming in a little too early at this point in the rotation. My guess is that there’ll be maybe two or even maybe three days where interest rates are lower. This was day one, and you have to wait as the food and drug analysts come out from under the table and start bragging loudly about their flock and about how it’s time to buy. That’s what those guys always do. See, I can see where Procter & Gamble could have another good day, maybe even two, based on the weaker dollar. What analysts could resist a price target boost there?”

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Disclosure: None. This article is originally published at Insider Monkey.