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Royal Mail: stock down after broker's negative comments.

( - The Royal Mail stock is down 1.
6% in London today, following comments from Liberum, which has reiterated its "sell" rating on the stock, while cutting its target price from 400 pence to 385 pence, believing that the group “will continue to lose market share in Parcels.”

"Our concerns on productivity have risen, with parcel trends a headwind and past success driving toughening comparatives," Liberum adds, which as a result has reduced its earnings estimates.

The broker added that the valuation of the British postal group, "may be undemanding at first glance, but is still priced for growth that is absent."

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