Reckitt: RBC upgrades stock
(CercleFinance.com) - RBC upgraded Reckitt shares to "outperform" on Wednesday (from "sector perform", with its target price raised to 7,000p (from 5,900p).
In a report, the broker praised the innovation efforts undertaken by the British consumer products giant.
The focus on R&D expenditure at the expense of marketing costs should work well in boosting its growth potential, analysts said.
The broker said that this scenario should be reinforced by the prospect of a sale of the remaining baby food business, provided of course that the deal is completed at a good price, it concludes.
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