Compass: Bank of America cuts to 'neutral'
(CercleFinance.com) - Bank of America said on Tuesday that it had downgraded the stock of British caterer Compass from "buy" to "neutral," citing an "uncertain" shape of recovery.
"We expect recovery to take longer and see short-term and long-term challenges”, BofA analysts wrote in a note.
Adding that the stock's valuation looks "fair," the brokerage firm also cut its price target on the share, from 1,300 pence to 1,250 pence.
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