David Hayes, an analyst from Jefferies, maintained the Hold rating on Reckitt. The associated price target remains the same with p5,200.00.
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David Hayes has given his Hold rating due to a combination of factors that reflect both positive and cautious elements in Reckitt’s performance. The company has shown impressive growth in emerging markets, with a significant 15% core growth in the third quarter, despite facing challenges such as GST changes in India. This growth is complemented by strong momentum in China, which helps to balance some difficulties experienced in Latin America.
Additionally, developed markets have also started contributing to growth, indicating a well-rounded performance for the period. However, while these achievements are commendable, the Hold rating suggests that there are still uncertainties or potential risks that prevent a more bullish outlook. The market’s reaction and the company’s ability to sustain this growth trajectory will be crucial in determining future recommendations.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a £56.00 price target.