Peel Hunt downgrades Computacenter to 'hold'

(Sharecast News) - Peel Hunt downgraded Computacenter to 'hold' from 'buy' on Friday as it said the valuation already factors in much of the upside potential over the next year. The broker, which lifted its price target on the stock to 3,000p from 2,716p, said Computacenter is still seen as a solid investment opportunity on a three-year-plus view, but much of the potential upside over the next 12 months is reflected in the share price already.

"While the valuation reflects expectations of a strong 2026, it overlooks underlying volatility and we believe there are more compelling opportunities elsewhere," Peel Hunt said.

At 1320 GMT, the shares were down 0.4% at 2,970p.