Rotork price target lowered to 365 GBp from 370 GBp at Jefferies

Jefferies lowered the firm’s price target on Rotork to 365 GBp from 370 GBp and keeps a Buy rating on the shares. The company’s 1H23 interims were ahead of the firm’s estimates, which was “pleasing,” the analyst tells investors in a research note. The firm added, however, that it was “frustrating” that the results were accompanied by modest FX-led consensus downgrades.