Jefferies upgraded Reckitt Benckiser to Hold from Underperform with a price target of 4,400 GBp, up from 4,100 GBp. The stock is down 23% year-to-date following a disappointing FY23 and a shock U.S. litigation risk, but the firm is boosting its price target to reflect a reduced assumption on U.S. litigation liability risk related to NEC in premature babies and the alleged association of infant formula usage and negligent practices by some suppliers, the analyst tells investors in a research note.
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