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Stock up on P&G?

Shares of Procter & Gamble are up 11% this year and Argus Research thinks there is more room to run. The firm upgrading the stock to buy from hold with a price target of $103.

Argus believes P&G has pruned less profitable brands and is boosting growth, profitability, and productivity, according to their research note.

The"Halftime Report" experts discussed the P&G trade.

Argus: P&G is boosting growth & profitability

Jim Lebenthal had reservations about the company's valuation. "At 20 times earnings, I just don't see the growth," he said.

Due to its dividend yield and buybacks, P&G is a shareholder friendly type stock, according to Pete Najarian.

This analyst is a little bit late on P&G, said Joe Terranova. "The stock is at a slow methodical appreciation throughout the year," Terranova argued.

Jon Najarian is concerned about an economic slowdown weighing on shares of P&G. Najarian warned in tough times consumers can easily switch from a product like Tide to a less expensive generic brand.