BofA analyst Simona Sarli upgraded Rentokil Initial (RTO) to Buy from Neutral with a price target of $34, up from $28. The firm also added Rentokil Initial to its “Europe 1 list” of top ideas. The company is the leading player in the growing North American pest control market, the analyst tells investors in a research note. BofA believes Rentokil still has an “untapped” opportunity in residential. It cites the recent underperformance of the shares for the upgrade.
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