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Compass: stock falls with broker downgrade

(CercleFinance.com) - The Compass share is down around 1% in London, with Liberum having downgraded the share from "buy" to "hold," while reducing its target price from 2240 pence to 2000 pence, believing that the share of the British mass catering group "now appears fully valued".

The day after the group published FY 2018-19 results, the broker has reduced its forecasts by around 2% to consider the Group's organic growth targets of around 5%, with stable margins.

"The heightened uncertainty and additional restructuring costs means additional cash returns to shareholders are unlikely over the medium term," Liberum warns in its comments.

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