Reckitt Benckiser: Jefferies maintains 'underperform' rating

(CercleFinance.com) - Jefferies maintains its "underperform" rating on Reckitt Benckiser, with a target price of 5,000 pence, after the British consumer goods maker's 2018 earnings beat consensus thanks to a lower-than-expected tax rate.


"These results look strong enough to support the shares and keep the bulls onside," the US broker wrote in a report.

However, RB guided for 3%-4% like-for-like growth for 2019, along with flat margins, a guidance that is in line with Jefferies expectations but which implies downside relative to the consensus, it warned.

The Reckitt Benckiser shares are currently down 1.4% at 6,202 pence in London.

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