Exane BNP Paribas upgraded Rentokil Initial to Outperform from Neutral with a price target of 620 GBp, up from 475 GBp. The analyst says the risk of the integration has “tangibly reduced” as the company invests in marketing, extends the process by a year and has seen organic growth modestly improve in early 2024. The firm notes Rentokil Initial trades at a 55% discount to U.S. peer Rollins.
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Read More on RTO:
- Rentokil Initial price target raised to 590 GBp from 575 GBp at RBC Capital
- Rentokil Initial price target lowered to 665 GBp from 700 GBp at Barclays
- Rentokil Initial rises 18.4%
- Rentokil Initial price target lowered to 610 GBp from 642 GBp at Deutsche Bank
- Rentokil Initial downgraded to Neutral from Buy at BofA
