Reckitt Benckiser : Jefferies upgrades stock

(CercleFinance.com) - Jefferies upgrades its opinion on Reckitt Benckiser from 'underperform' to 'hold', with a target price raised from 4100 pence to 4400 pence, based on slightly improved sentiment regarding litigation in the US, which has weighed on the share price.


The broker points to the 23% YTD decline in the share price, following a disappointing FY 2023, and believes that from an operational point of view, an implicit NTM P/E ratio of around 14x better reflects realistic long-term profitability.

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