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SIG downgraded by Numis

18 August 2017 14:57

Numis has downgraded its recommendation on European building products distributor SIG (LON:SHI) to reduce (from hold) beliving the valuation is now up with events relative to its unchanged target price of 150 pence per share.

The broker added: "We back management to make substantive changes, but headwinds in the UK (where profit recovery needs to be focused to be meaningful) could offset these actions and valuation looks high based purely on interims to date and ahead of the review conclusion in Q4 2017."

At 2:57pm: (LON:SHI) SIG PLC share price was -3.2p at 175.3p

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