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Halma downgraded by HSBC

14 June 2017 15:32

HSBC has downgraded its investment rating on Halma (LON:HLMA) to hold (from buy) following the healthcare device maker's full year results and stating that the shares now look fairly valued.

The bank said: "It has delivered double digit earnings CAGR over the last 20 years with at least a 5% dividend increase every year for the last 38 years.

"But we believe valuation multiples are now up with events given its strong share price run (up 28% YTD)."

Nevertheless, HSBC increased its target price to 1,200p per share (from 1,150p).

Separately, JP Morgan Cazenove repeated its neutral stock call and 925p target.

At 3:32pm: (LON:HLMA) Halma PLC share price was -35.5p at 1142.5p

Story provided by StockMarketWire.com

Related Company: HLMA

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