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Rentokil: Jefferies initiates with 'hold' rating.

(CercleFinance.com) - Jefferies initiates its coverage of the Rentokil stock with a "hold" rating and a target price of 335 pence, suggesting investors "take a breather" on the business service provider's stock.

“Rentokil's stock has rallied c. 415% since 2012; however, we believe that a tighter balance sheet, rising M&A valuations, and opaque margin progression warrant a pause in the rally,” the broker deems.

The broker expects that the British group will increase its revenues in a range of 5% to 8% in 2018, with no apparent catalyst for an expansion in multiples.

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