RBC Capital upgrades Smith Group
Smiths Group
1,693.00p
15:45 15/11/24
-0.06%
-1.00p
RBC Capital Markets upgraded Smiths Group on Thursday to ‘sector perform’ from ‘underperform’ and lifted the price target.
FTSE 100
8,060.61
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
General Industrials
7,617.25
15:44 15/11/24
0.41%
31.16
"Underperformance of around 20% over the last nine months means that the relative valuation of Smiths has moved from a significant sector premium to now a slight discount," it said.
"With higher peer multiples supporting our sum-of-the-part rising to 1,775p (from 1,650p) we upgrade our rating."