459.5p 0.6 0.1%
Last Trade - 1:25pm
Market Cap | £4.58bn |
Enterprise Value | £5.61bn |
Revenue | £11.35bn |
Position in Universe | 194th / 1809 |
** Shares in British postal services co RMG.L up 3.7% at 404.3 pence after Deutsche Bank upgrades to "buy" from "hold" ** Brokerage says RMG's earnings have been materially rebased upwards as there has been an acceleration of structural shift towards e-commerce and parcels, adding that co can now grow its earnings in the medium-term ** Although co is still in transformation and modernisation mode, it is in a much better position to generate sufficient free cash flow to restart modest amounts of dividend payment - DB ** Sees the framework agreement with the Communication Workers Union as a positive with 2.7% pay increase from April 2020 and a further 1% from April 2021 ** DB raises PT by 230p to 550p, the highest among all analysts covering the stock; PT implies an upside of ~41% to RMG's last close ** Up to Tuesday's close, stock up 15.5% YTD (Reporting By Geetha Panchaksharam) ((geetha.panchaksharam@thomsonreuters.com))