Sharecast News
23 Jun, 2022 09:19

Numis initiates coverage of Bunzl at 'hold'

dl bunzl equipment plant truck lorry delivery freight shipping ftse 100 min
BunzlCompany photo / Bunzl

Numis has initiated coverage of Bunzl, the international distribution and services firm, with a ‘hold’ rating.

The broker, which has a target price of 2,600p, said the stock was likely to be supported by Bunzl's track record in mergers and acquisitions.

It noted: "In a period of elevated economic uncertainty, Bunzl’s defensive growth attributes should support relative share price resilience. Long-term organic growth is lower than other listed distributors, but Bunzl’s track record of acquisitions has still driven shareholder value and we would expect this to continue.

"With leverage currently below the group’s target range, we see scope for up to 20% update to our earnings per share estimates over three years from M&A."

As at 0915 BST, shares in Numis were down 1% at 2,562.0p.


News Source: © 2022 Web Financial Group (UK) Limited. All rights reserved and terms of use apply.

Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news and we may not share the views of the author or publisher. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.

 

Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.