Reckitt: Deutsche Bank lowers its target
(CercleFinance.com) - Deutsche Bank announced on Friday that it had lowered its target price for Reckitt from 6,200 to 6,000 pence, believing that the company was testing investors' patience.
The analyst - who is maintaining his 'hold' recommendation on the stock - acknowledges that the share is currently attractively valued compared with its historical levels, but believes that more is needed to seduce the market.
And while acknowledging that the fast-moving consumer goods group has succeeded in developing its portfolio, particularly in hygiene, the intermediary also points out that headwinds continue to penalize its anti-influenza and nutrition businesses.
Deutsche also believes that the company needs to improve its growth trajectory in emerging countries.
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