Royal Mail shares tumbled on Wednesday as UBS downgraded them to ‘sell’ from ‘buy’ and cut the price target to 440p from 590p. The bank said risks to opex were increasing, with potential pricing pressure in UK Parcel. UBS cut its FY22/23 EBIT estimates by 8%/15%, mainly driven by higher …
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Royal Mail went under offer to sell the slice of its former depot in Nine Elms – known as Plot A – last July, when Quadrant secured the deal ahead of rival bids from the likes of MiddleCap, among other investors. The transaction is Royal Mail’s latest sale on the …
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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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