Berenberg Bank Cuts Reckitt Benckiser Group (LON:RKT) Price Target to GBX 6,200

Key Points

• Berenberg Bank cut its price target on Reckitt Benckiser from GBX 7,000 to GBX 6,200 and kept a "buy" rating, implying about a 28.9% upside from the prior close.
• Several other brokers (Deutsche Bank, Jefferies, Citi, RBC) have also trimmed targets; with three Buy and four Hold ratings, the consensus is a Hold and an average target of GBX 6,208.57.
• RKT traded at GBX 4,810 (up 0.7%) on heavy volume, with a market capitalization of £30.95 billion and a price-to-earnings ratio of 9.88.

Reckitt Benckiser Group (LON:RKT - Get Free Report) had its target price lowered by analysts at Berenberg Bank from GBX 7,000 to GBX 6,200 in a research report issued to clients and investors on Friday,Digital Look reports. The firm presently has a "buy" rating on the stock. Berenberg Bank's price target would indicate a potential upside of 28.90% from the company's previous close.

A number of other analysts have also recently issued reports on RKT. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Reckitt Benckiser Group from GBX 5,500 to GBX 5,460 and set a "hold" rating for the company in a research note on Wednesday, March 25th. Jefferies Financial Group decreased their target price on shares of Reckitt Benckiser Group from GBX 5,900 to GBX 5,600 and set a "hold" rating for the company in a research report on Tuesday, March 31st. Citigroup dropped their price target on shares of Reckitt Benckiser Group from GBX 7,000 to GBX 6,200 and set a "buy" rating on the stock in a research note on Thursday. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a GBX 6,200 price target on shares of Reckitt Benckiser Group in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Reckitt Benckiser Group presently has an average rating of "Hold" and an average target price of GBX 6,208.57.

Reckitt Benckiser Group Stock Up 0.7%

RKT stock traded up GBX 35 during mid-day trading on Friday, hitting GBX 4,810. The stock had a trading volume of 25,341,695 shares, compared to its average volume of 16,840,809. The company has a current ratio of 0.85, a quick ratio of 0.46 and a debt-to-equity ratio of 108.83. Reckitt Benckiser Group has a 1-year low of GBX 4,574 and a 1-year high of GBX 6,522.92. The company has a fifty day moving average of GBX 5,526.57 and a 200 day moving average of GBX 5,812.57. The stock has a market capitalization of £30.95 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.10 and a beta of 0.30.

Reckitt Benckiser Group (LON:RKT - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported £122.58 earnings per share (EPS) for the quarter. Reckitt Benckiser Group had a return on equity of 38.45% and a net margin of 25.23%. On average, equities analysts expect that Reckitt Benckiser Group will post 331.2110727 EPS for the current fiscal year.

About Reckitt Benckiser Group

At Reckitt, we protect, heal and nurture. We are the company behind some of the world's best known and most trusted Health and Hygiene consumer brands. Delivering for a cleaner, healthier world requires strong brands with a global footprint. From Dettol, Lysol, Durex, Finish, Harpic and Vanish, Mucinex, Nurofen, Gaviscon, Veet and Strepsils, consumers love and rely on our brands to care for their families, as they have done for over 200 years. We use our scientific expertise and deep human understanding to develop solutions to help people improve their lives – that is why over 30 million Reckitt products are sold each day worldwide. At Reckitt, we're all making a real difference to people all over the world, every day.

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