Berenberg upped its rating on Royal Mail on Tuesday to ‘hold’ from ‘sell’ and hiked the price target to 280p from 137p as it said risks remain but are now balanced. The bank noted that despite a severe hit to mail volumes, Royal Mail has been relatively successful during the …
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Credit Suisse upped Royal Mail to ‘neutral’ from ‘underperform’ on Friday, hiking the price target 261p from 94p as it said the UK outlook has been improved by pandemic-driven tailwinds. Following new analysis of short-term parcel trends and early indications of letter and parcel revenue baselines beyond the pandemic, the …
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Royal Mail surged on Wednesday as JPMorgan Cazenove upgraded the stock to ‘overweight’ from ‘neutral’ and lifted the price target to 374p from 253p, saying it sees a potential strong improvement in trading over the next 18 months, due in part to an improved revenue outlook. “In our view, this …
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Royal Mail shares rallied on Friday after JPMorgan Cazenove upgraded its rating to ‘neutral’ from ‘underweight’. It said that while the UK turnaround is far from certain, stronger short-run trading has at least bought some time, and should prevent a build-up of net debt. “The CWU negotiations appear to be …
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Analysts at Liberum slightly raised their target price on ‘sell’ rated postal service Royal Mail Group on Monday, stating that risks to its UK operations outweighed resilience in its European arm, General Logistics Systems (GLS). Liberum said the outlook for Royal Mail’s UK parcels, international and letters (UKPIL) unit was …
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Royal Mail has been fined £1.5m by its regulator for missing delivery targets for first-class post and £100,000 because it overcharged for second-class stamps. The letters and parcels company is required to deliver at least 93% of first-class post across the UK within one working day of collection but in …
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Analysts at Liberum hiked their target price on British logistics outfit DX from 14.0p to 30.0p on Wednesday, stating the group had executed “a remarkable turnaround”. Liberum said since DX’s current management team arrived on the scene back in October 2017, the group had been refinanced and rescued as its …
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Royal Mail was under pressure on Wednesday as Liberum reiterated its ‘sell’ rating on the stock and slashed the price target to 120p from 175p, arguing that the company’s strategy is undeliverable. The broker said the fact that management openly questioned the achievability of its 2024 targets just nine months …
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“Things will get worse before they get better,” the bank said, adding that the current cash flow trajectory implies a cash crunch, with dividends and capex outpacing cash generation by around £200m. Bernstein said management will have to choose between restarting the transformation, cutting the dividend, or increasing borrowing. “The …
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London’s FTSE 250 was 0.20% higher at 20,706.34 in afternoon trade on Thursday, with Dunelm leading the charge upward. Shares of the homeware retailer surged after it said full-year pre-tax profit was set to come in higher than previous expectations. AJ Bell analyst Russ Mould said: “A lot can happen …
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