UK's Volution falls after brokerage downgrades stock to 'hold'

Volution

27/09/2024 12:58

** Shares of ventilation products supplier Volution  FAN.L 
down 1.9% at 609p
    ** Brokerage Peel Hunt cuts stock to "hold" from "buy" as
stock is trading just over its price target recommendation;
raises PT to 600p from 495p
    ** Says key risks for co are primarily macroeconomic,
concerning activity in residential markets in the UK, Germany,
the Nordics, Australia and New Zealand
    ** Disruptions in supply of some materials, especially those
sourced from Asia, could potentially constrain co's output in
short term - Peel Hunt
    ** Including session's move, FAN stock up about 40% YTD


 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com))