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UDG downgraded by Berenberg

08 May 2017 15:04

Berenberg Bank has downgraded its investment rating on UDG Healthcare (LON:UDG) to hold (from buy), saying that the shares now looks fully valued.

The broker said: "We still believe that UDG is a high quality, well-run company with plenty of opportunities for organic and inorganic growth.

"However, the stock's recent strong performance (+23% in the last 12 months; 10% outperformance versus the SXDP) leaves it looking fully valued even in the context of a broader sector rally."

Analysts left their price target unchanged at 745 pence per share.

At 3:04pm: (LON:UDG) UDG Healthcare PLC share price was -20.75p at 739.75p

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