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 …
Read More »UBS downgrades Royal Mail to ‘sell’, shares tumble
