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The Dettol and Strepsils producer beat consensus estimates in its sales over the three months to September as they rose seven per cent. Analysts at Canaccord Genuity lifted their target price to 5,825p from 5,470p but maintained their “hold” rating. They said innovation was impressive across the board and that “this is clearly a strong performance overall and adds to the recent very consistent track record.”
Analysts at Numis said development activity at Europe’s biggest industrial property owner “remains high, which we expect will continue to be a key source of growth for Segro, given the high yield on cost target of about 8.1 per cent and robust tenant demand”. Numis “believes the shares are around fair value” and maintained their “hold” rating with a target price of 453p.