Smiths Group falls after brokerage downgrades stock, cuts PT on growth concerns

Smiths

11/03/2026 09:18

** Shares of British engineering firm Smiths Group SMIN.L down 6.2% at 2,438p

** Stock is top percentage loser on the FTSE 100 .FTSE index, which is up 1%

** Exane BNP Paribas downgrades stock to "neutral" from "outperform" and cuts PT to 2,700p from 2,900p

** Brokerage flags concerns about the organic growth of SMIN's John Crane unit, says muted outlook for oil and gas could trigger earnings cuts and put co's FY27 growth guidance into question

** John Crane is SMIN's engineered sealing solutions provider in the United States and serves industrial and energy markets

** "Whilst Smith remains inexpensive, negative earnings revisions are likely to temporarily weigh on sentiment," brokerage says

** SMIN up ~4% YTD

 (Reporting by Nithyashree R B in Bengaluru)

 ((NithyashreeRB@thomsonreuters.com))