Haleon initiated with a Buy at HSBC

HSBC initiated coverage of Haleon with a Buy rating and 370 GBp price target. The analyst views Haleon as possessing the strongest consumer health portfolio and says the company is building a track record of superior execution. Haleon’s “class-leading growth can be sustained,” says the firm, which believes that as market confidence in Haleon’s mid-single-digit growth algorithm increases, the shares can re-rate.