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(Sharecast News) - Unilever: Barclays upgrades to equal weight with a target price of 4,420p.
Frontier Developments: Berenberg reiterates buy with a target price of 1,800p.
AJ Bell: Berenberg reiterates sell with a target price of 230p.
Eurocell: Canaccord reiterates buy with a target price of 275p.
Admiral Group: Barclays reiterates overweight with a target price of 2,376p.
Intercontinental Hotels: Deutsche Bank upgrades to buy with a target price of 4,600p.
Whitbread: Deutsche Bank reiterates hold with a target price of 3,340p.
Rolls-Royce: UBS downgrades to neutral with a target price of 328p.
Royal Dutch Shell: Liberum reiterates buy with a target price of 2,000p.
Burford Capital: Liberum reiterates buy with a target price of 2,600p.
Meggitt: Credit Suisse reiterates underperform with a target price of 270p.
Vodafone: Credit Suisse reiterates outperform with a target price of 170p.
Smiths (DS): JP Morgan upgrades to buy with a target price of 325p.
Hikma: JP Morgan upgrades to overweight with a target price of 2,400p.
Daily Mail: Citigroup reiterates sell with a target price of 625p.
WPP: Citigroup reiterates buy with a target price of 1,050p.
30 Aug 2023 08:04
IN BRIEF: Smiths Group buys US firm Heating & Cooling Products
Smiths Group PLC - London-based engineering firm - Acquires Heating & Cooling Products Inc, a Ohio-based manufacturer of heating, ventilation and air conditioning products. Smiths is paying USD82 million on a cash and debt-free basis for HCP, which recorded USD69 million in revenue in the 12 months that ended July 31. Smiths doesn't provide HCP's recent earnings but says the acquisition is done at 7x multiple to HCP's estimated 2023 earnings before interest, tax, depreciation and amortisation. HCP will be integrated within the Flex-Tek division of Smiths. The UK company says the acquisition expands its presence in the North American HVAC market, highlighting HCP's axial and radial seal duct technology, which improves energy efficiency.
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