Share Prices & Company Research

Market News

04 Mar 2021 | 13:47

Barclays initiates PZ Cussons with 'overweight' rating

(Sharecast News) - Barclays started coverage of PZ Cussons with an 'overweight' rating in the expectation that newish chief executive Jonathan Myers will shake up the soap maker. Myers joined the maker of Carex and Imperial Leather in May and is the company's first external boss. He is likely to address non-core businesses and increase brand investment to revive growth, Barclays said.

Carex is the UK market leader in the UK for hand wash and sanitiser. Increased demand for both products at schools, shopping malls and other professional premises will drive growth, Barclays said.

In addition, the share price undervalues Cussons' Europe/Americas business and appears to assign no value to Africa at all, the bank said.

Barclays set a 300p price target for Cussons' shares "given leadership positions in its categories, best-in-class operating margins and exposure to hygiene". Cussons shares rose 2.4% to 255.5p at 13:55 GMT.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.