** Jefferies upgrades Britain's Royal Mail  RMG.L  to "hold"
from "underperform", raises PT to 450p from 300p
    ** Brokerage says co's parcels and letters businesses will
normalize and "shares now trade in line with the postal sector"
    ** Co last week forecast annual profits ahead of market
expectations as COVID-19 restrictions pushed parcel delivery
demand to record levels and Christmas mail eased a slide in
letter volumes  urn:newsml:reuters.com:*:nL4N2KH12P
    ** Brokerage says pandemic has supercharged growth in UK
parcels, which is good for RMG, but likely triggers increasing
competitive pressures
    ** "We assume a return to normal growth trends beyond
FY21/22, with 5% parcel revenue growth, partly offset by 5%
lower letter revenues" - Jefferies
    ** At least 8 brokerages have raised PT on RMG after co
forecast upbeat outlook
    ** 8 of 14 brokerages rate the stock "buy" or higher, 4
"hold" and 2 "sell" or lower; their median PT is 457.50p -
Refinitiv data
    ** Up to last close, stock up 38.5% YTD

 (Reporting By Geetha Panchaksharam)
 ((geetha.panchaksharam@thomsonreuters.com))