G4S: shares fall after UBS downgrade.
(CercleFinance.com) - G4S shares are down on Thursday, after UBS cut its rating on the British security group from "buy" to "neutral".
UBS analysts also trimmed their target price for G4S shares from 350 pence to 300 pence.
After these cuts, the shares were down 3.1% at 283.8 pence in mid-morning trading on the London Stock Exchange.
In a research note, UBS recommends "pausing for breath."
"We believe G4S is nearly through its internal turnaround cycle," the brokerage firm said. "With growth set to normalise off tough comps in second-half, we downgrade to neutral," it said.
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UBS analysts also trimmed their target price for G4S shares from 350 pence to 300 pence.
After these cuts, the shares were down 3.1% at 283.8 pence in mid-morning trading on the London Stock Exchange.
In a research note, UBS recommends "pausing for breath."
"We believe G4S is nearly through its internal turnaround cycle," the brokerage firm said. "With growth set to normalise off tough comps in second-half, we downgrade to neutral," it said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.