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An announcement from Reckitt ( (GB:RKT) ) is now available.
Reckitt Benckiser Group PLC announced the purchase of 68,600 of its ordinary shares from RBC Europe Limited, as part of a buyback program authorized by shareholders. The company plans to cancel these shares, impacting the total voting rights and share count, which will now stand at 676,952,435. This move is part of Reckitt’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:RKT) stock is a Buy with a £7700.00 price target. To see the full list of analyst forecasts on Reckitt stock, see the GB:RKT Stock Forecast page.
Spark’s Take on GB:RKT Stock
According to Spark, TipRanks’ AI Analyst, GB:RKT is a Outperform.
Reckitt’s overall score is driven by strong earnings call performance and solid financial health, despite some challenges in revenue growth and valuation concerns. The technical analysis supports a positive outlook, although caution is advised due to potential overbought conditions.
To see Spark’s full report on GB:RKT stock, click here.
More about Reckitt
Reckitt Benckiser Group PLC operates in the consumer goods industry, focusing on health, hygiene, and home products. The company is known for its wide range of products including disinfectants, over-the-counter pharmaceuticals, and household cleaning supplies.
Average Trading Volume: 1,293,709
Technical Sentiment Signal: Buy
Current Market Cap: £38.66B
Learn more about RKT stock on TipRanks’ Stock Analysis page.