Reckitt: Deutsche Bank cuts TP

(CercleFinance.com) - Deutsche Bank announced on Friday that it had cut its target price for Reckitt shares from 6,200 pence to 6,000 pence, believing that the issue is testing investors' patience.


The analyst - who maintains a "hold" rating on the stock - acknowledges that it is currently attractively valued relative to its historical levels, although believes that more is needed to seduce the market.

And while he acknowledges that the consumer goods group has succeeded in developing its portfolio, particularly in hygiene, the broker also points out that headwinds continue to penalise its anti-influenza and nutrition businesses.

Deutsche also believes that the company needs to improve its growth trajectory in emerging markets.


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