UK's Ricardo slips after Peel Hunt downgrades to 'hold', cuts PT

Ricardo

20/02/2025 08:45

** Shares of consulting company Ricardo  RCDO.L  down ~1.8%
at 222p
    ** Peel Hunt downgrades to "hold" from "add"; cuts PT to
237p from 454p 
    ** Brokerage sees PLC costs could hurt profit and margins
due to the company's reduced scale 
    ** Last month, Co forecast FY 24/25 results below consensus
expectations, impacted by order delays
    ** Average rating is "hold", with a median PT of 440p- LSEG
    ** YTD, Stock fell ~46% as of last close, compared with a
~4% increase in the FTSE 100 index  .FTSE  

 (Reporting by Rashika Singh in Bengaluru)
 ((rashika.singh@thomsonreuters.com))