Royal Mail: Crédit Suisse raises target price
(CercleFinance.com) - Following the publication of Royal Mail's H1 results, Crédit Suisse has raised target price for the share to 267p (from 261p).
The analyst expects an increase in the number of parcels sent, thereby raising his EBIT forecast for 2021 from 169 million pounds to 312 million pounds.
However, the analyst states that he is making "no material changes to our forecasts for FY22E and beyond" and therefore maintains a "neutral" rating on the Royal Mail share.
The share is flat in late morning trading on Monday.
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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 analyst expects an increase in the number of parcels sent, thereby raising his EBIT forecast for 2021 from 169 million pounds to 312 million pounds.
However, the analyst states that he is making "no material changes to our forecasts for FY22E and beyond" and therefore maintains a "neutral" rating on the Royal Mail share.
The share is flat in late morning trading on Monday.
Copyright (c) 2020 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.