Morgan Stanley upgraded Bunzl to Equal Weight from Underweight with a price target of 3,030 GBp, up from 2,700 GBp. The analyst refreshed the firm’s “Best Business Model framework” to identify valuation anomalies and opportunities for 2024. Preferred plays are Elis, Bureau Veritas, Experian and Diploma, the analyst tells investors in a research note. The firm is cautious on Securitas, IMCD and Eurofins.
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