With the technology ecosystem — including the previously red-hot cryptocurrency sector — suffering a worrying correction, investors have found comfort in traditional safe havens. On paper, that would mean gold but precious metals have also been fading recently. Instead, it's defensive enterprises like Procter & Gamble (NYSE:PG) that have witnessed an influx of investor sentiment. Even more enticing for PG stock, it may still have fuel left in the tank.
Yes, one could make the argument from the pages of fundamental analysis that the consumer goods giant is undervalued. Currently, shares trade for a bit over 23-times trailing-year earnings. At the end of the first calendar quarter, PG stock traded for over 27-times earnings. However, this claim is entirely contingent on the forward value assumption.
