Tate & Lyle downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Tate & Lyle to Equal Weight from Overweight with a price target of 760 GBp, down from 950 GBp. The firm says GLP-1 drugs pose a “structural bear case” for food Ingredients stocks that is difficult to dismiss. A growing negative narrative around the health risks of ultra-processed foods could further pressure market expectations on terminal growth, the analyst tells investors in a research note. Barclays turned more cautious on the predominantly food-exposed ingredient names.