Bunzl: Credit Suisse raises target price

(CercleFinance.com) - While maintaining its "neutral" rating on the Bunzl share, Credit Suisse raises its corrresponding target price from 2175 pence to 2450 pence, "to reflect higher 2022E NOPAT and improved long term growth prospects".


The day after the UK retail and outsourcing group's H1 results, the broker says that it is raising its FY 2020 EPS estimates by 10%, with increases of 1%-3% for 2021 and 2022.

"Bunzl grew 2.8% organically in H120 as significant strength in Covid-19 related product distribution more than offset pressure in its base business," analysts note.


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