Securitas: Credit Suisse downgrades stock
(CercleFinance.com) - Until now a buyer, with an "outperform" rating on the Swedish Securitas share, this morning Credit Suisse downgraded the share to "neutral".
Alongside this downgrade, the broker has cut its target price for the share from 170 Swedish kronor to 155 Swedish kronor.
The broker's comments mention "Slower growth," with the group having lost contracts in the UK and France. In addition, margins are pressure in Europe where wages are increasing, and this has only been partly offset by prices. This trend is expected to continue, Credit Suisse says, which has adjusted its financial forecasts accordingly.
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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.
Alongside this downgrade, the broker has cut its target price for the share from 170 Swedish kronor to 155 Swedish kronor.
The broker's comments mention "Slower growth," with the group having lost contracts in the UK and France. In addition, margins are pressure in Europe where wages are increasing, and this has only been partly offset by prices. This trend is expected to continue, Credit Suisse says, which has adjusted its financial forecasts accordingly.
Copyright (c) 2019 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.