RBC upgrades UK's Convatec to 'outperform', sees strong growth prospects

ConvaTec

21/08/2025 08:57

** RBC Capital Markets upgrades British medical equipment maker Convatec Group CTEC.L to "outperform" from "sector perform"

** Cites the share price reaction as overdone and sees a buying opportunity, backed by strong growth and margin prospects

** Shares of CTEC marginally up at 244.8p

** Brokerage trims PT to 315p from 320p, a ~29% upside to the stock's last close on Wednesday

**  The company announced that it will initiate a share buy-back worth up to $300 million (223.03 million pounds), which RBC expects to be completed by year-end

** Average rating of 18 analysts is "buy"; median PT is 314p - data compiled by LSEG

** As of last close, CTEC up nearly 10.4% YTD

(1 British pound = $1.3451)

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))