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Bunzl downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Bunzl (BZLFY) to Sector Perform from Outperform with a price target of 2,350 GBp, down from 2,600 GBp. The firm cites “Street-wide concerns” that the company’s April warning was not a “one and done” and feedback that Bunzl faces greater competition which could further pressure organic margins over the medium term for the downgrade.

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