(CercleFinance.com) – Royal Mail is gaining nearly 1% in London on the back of a recommendation increase from ‘neutral’ to ‘buy’, with a target price of 320 to 445 pence on the UK’s incumbent postal operator.
After de-risking our turnover estimates, we expect an average annual growth rate of 16% in adjusted EBIT for 2021-23 and find the valuation attractive as Royal Mail is trading at a 20-25% discount to its peers, » said the broker.
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