Royal Mail logo

RMG - Royal Mail News Story

459.5p 0.6  0.1%

Last Trade - 1:25pm

Sector
Industrials
Size
Large Cap
Market Cap £4.58bn
Enterprise Value £5.61bn
Revenue £11.35bn
Position in Universe 194th / 1809

BUZZ-Royal Mail: Rises after Deutsche Bank upgrades to 'buy'

Wed 20th January, 2021 9:28am
** 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))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.