Jefferies analysts initiated Procter & Gamble (NYSE:PG) with a Buy rating and $177 per share price target in a note to clients Monday.

In the note, Jefferies said the company is built to endure, and they believe P&G will continue to drive peer-leading top and bottom-line growth over the next four years.

“Higher spending during F14-19 led to the strong top-line momentum and resilient margin profile seen today,” the analysts said. “Now, the company is emerging from several macro challenges as a more durable business that has activated the flywheel effect.”

The Wall Street firm believes that the strong fundamentals for PG pave the way for a more durable earnings stream and ROIC profile “while widening an already sizable competitive moat.”

“Enduring top-line momentum and margin improvements have driven P&G’s ROIC higher,” the analysts added. “This should continue as we expect ~25% ROIC by F27 (vs. 19% in F23) on better asset turns and profitability.”