Royal Mail: Liberum cuts target price.

(CercleFinance.com) - Liberum has repeated its "sell" rating on Royal Mail and has cut its target price from 400 pence to 385 pence, believing that the group "will continue to lose market share in Parcels, with weaker exposure to the fastest growing segments".


"Our concerns on productivity have risen, with parcel trends a headwind and past success driving toughening comparatives," added the broker, which is accordingly cutting its earnings estimates for the group.

The broker adds that although 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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