PageGroup: Liberum downgrades buy rating.
(CercleFinance.com) - Liberum has degraded its “buy” rating on the recruitment specialist PageGroup from "buy" to "hold," despite increasing its target price from 455 pence to 505 pence, after the stock's 26% rise since the beginning of the year.
The broker says that "Whilst we acknowledge that the shares provide an attractive yield and do not look overly expensive relative to historic levels, we see more limited upside to our earnings estimates than has been the case in the recent past," it broker sees more limited upside potential in its earnings estimates than in the recent past.
Liberum points out that the recruitment firm's share only offers potential total shareholder return (TSR) of 8% and it sees a better risk-return potential elsewhere in the sector.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker says that "Whilst we acknowledge that the shares provide an attractive yield and do not look overly expensive relative to historic levels, we see more limited upside to our earnings estimates than has been the case in the recent past," it broker sees more limited upside potential in its earnings estimates than in the recent past.
Liberum points out that the recruitment firm's share only offers potential total shareholder return (TSR) of 8% and it sees a better risk-return potential elsewhere in the sector.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.