Rentokil Initial upgraded to Buy from Neutral at UBS

UBS analyst Nicole Manion upgraded Rentokil Initial (RTO) to Buy from Neutral with a price target of 540 GBp, up from 430 GBp. The firm says that for the first time since 2020, it turns positive on Rentokil. The company’s organic volumes look on track to return to growth and its costs look balanced, the analyst tells investors in a research note. UBS believes a “valuable compounder could be re-emerging.”