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Beaufort Securities has upgraded the mail group to “buy” from “hold”, with a target price at 560p. The broker believes Royal Mail continues to exhibit steady operational performance, with growth in the European and UK parcel market providing a strong opportunity for the group.
UBS has increased to “buy” from “neutral”, raising the target price to 2,000p from 1,700p. The broker believes that the acquisition of Bedford Laboratories is a good deal that makes strategic and financial sense for Hikma, with another acquisition likely ahead to diversify geographically.