DJ Britvic's Shares No Longer Look Attractive -- Market Talk
1352 GMT - Britvic's valuation no longer looks attractive, RBC Capital Markets says, cutting its recommendation on the U.K. soft-drinks maker to sector-perform from outperform. Britvic's operating environment has significantly deteriorated, RBC says. The company isn't alone in that fact but, unlike the rest of such stocks in RBC's coverage, it is in a market with limited brand power and its concentrated U.K. presence increases its vulnerability to supply-chain disruption, RBC says. "In addition, its valuation no longer looks attractive on an absolute or relative basis," RBC analyst Emma Letheren says. RBC also cuts its price target on the stock to 870 pence from 1060p. Shares fall 7% to 839p. (philip.waller@wsj.com)
(END) Dow Jones Newswires
October 11, 2021 09:52 ET (13:52 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.