UK's Rentokil falls on Morgan Stanley rating, price target downgrade
29/09/2026 08:30
BUZZ-UK's Rentokil falls on Morgan Stanley rating, price target downgrade ** Shares of pest control firm Rentokil RTO.L down 2.4% to 297.1p
** Morgan Stanley downgrades RTO to "equal weight" from "overweight"; trims PT to 420p from 500p
** "Path to multiple recovery looks more opaque in the near term", brokerage says
** Investors will now need to see Rentokil deliver several quarters of sequential growth improvement in US pest to demonstrate the strategic changes outlined by new CEO Mike Duffy are gaining traction, before the shares can re-rate - MS
** Average rating of 22 analysts is "buy"; median PT is 457p - LSEG-compiled data
** Up to last close, stock had fallen 33.6% YTD
(Reporting by Joel Jose in Bengaluru)
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