Bunzl (LON:BNZL) Upgraded by JPMorgan Chase & Co. to “Overweight”
JPMorgan Chase & Co. upgraded shares of Bunzl (LON:BNZL) to an overweight rating in a research note issued to investors on Friday, Stock Target Advisor reports. JPMorgan Chase & Co. currently has GBX 2,350 ($28.92) target price on the stock, up from their prior target price of GBX 2,000 ($24.61).
A number of other equities research analysts also recently commented on the stock. Barclays lifted their price target on shares of Bunzl from GBX 2,000 ($24.61) to GBX 2,350 ($28.92) and gave the stock an overweight rating in a report on Wednesday, June 17th. Citigroup reiterated a buy rating and set a GBX 2,150 ($26.46) price target on shares of Bunzl in a report on Wednesday, May 13th. Berenberg Bank lifted their price target on shares of Bunzl from GBX 1,550 ($19.07) to GBX 2,250 ($27.69) and gave the stock a hold rating in a report on Thursday, June 25th. Credit Suisse Group downgraded shares of Bunzl to an underperform rating and lowered their price target for the stock from GBX 2,000 ($24.61) to GBX 1,195 ($14.71) in a report on Friday, March 20th. Finally, Deutsche Bank lifted their price target on shares of Bunzl from GBX 1,920 ($23.63) to GBX 2,175 ($26.77) and gave the stock a buy rating in a report on Tuesday, June 16th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of GBX 1,980.83 ($24.38).
Shares of LON BNZL opened at GBX 2,162 ($26.61) on Friday. The company has a market cap of $7.22 billion and a PE ratio of 20.53. Bunzl has a 12 month low of GBX 1,242 ($15.28) and a 12 month high of GBX 2,199 ($27.06). The company has a debt-to-equity ratio of 134.59, a current ratio of 1.34 and a quick ratio of 0.79. The company has a 50-day simple moving average of GBX 1,927.51 and a 200-day simple moving average of GBX 1,878.31.
Bunzl plc provides distribution and outsourcing services primarily in the North America, Continental Europe, the United Kingdom, Ireland, and internationally. It provides non-food consumables, including food packaging, napkins, disposable tableware, food service disposables, guest amenities, light and heavy catering equipment, cleaning and hygiene products, and safety items to hotels, restaurants, caterers, and food processors and packers, as well as the leisure sector.
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