This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Share price breakout to extend May uptrend. Potential for a rally back to rising highs extending back to summer of 2005 (highs last seen in July 2017). Recently upgraded to Outperform by Bernstein, citing potentially stronger H2.
Consensus is Bullish (only 10% of brokers say Sell) and 45% of brokers suggest upside from current levels. Consensus target implies upside of 5.8%, but share price momentum could generate rating and targets upgrades among the 45% of brokers who are neutral. Average May broker target price of 1689p is moving the current price closer to the 1714p 12-month target, as well as our profit limit of 1766p.
Next Event: Trading Update, 26 Jul
Latest Broker 12-Month Consensus: 45% Buy, 45% Hold, 10% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -18.3 | -13.6 | -14.2 | -7.3 | -19.7 | 25.5 | 93.8 | 117.9 | 247.4 |
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