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Tag Archives: 'underperform'

Bernstein downgrades Royal Mail to ‘underperform’

“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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