Rotork price target lowered to 430 GBp from 440 GBp at Jefferies

Jefferies analyst Andy Douglas lowered the firm’s price target on Rotork (RTOXF) to 430 GBp from 440 GBp and keeps a Buy rating on the shares. The firm believes Rotork’s Q1 trading update was “solid,” and called the narrative from management “as expected.” Jefferies maintained that Rotork’s qualities are “intact/fundamentally undervalued,” the group’s outlook is “positive,” and there is a strong balance sheet to fund M&A and buybacks.