Morgan Stanley analyst Sarah Simon downgraded Reckitt Benckiser to Equal Weight from Overweight with a price target of 6,000 GBp, down from 6,700 GBp. The firm says amid increasing uncertainty as to the state of the consumer, it is refocusing its household and personal care stock picks on those companies “where we have visibility on growth and margin, pivoting away from ‘show-me’ turnarounds.” With the buyback announced, the analyst thinks the good news is already out on Reckitt.
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