Credit Suisse Group Boosts Bunzl (BNZL) Price Target to GBX 2600

Bunzl (LON:BNZL) had its price target boosted by research analysts at Credit Suisse Group from GBX 2,470 ($32.27) to GBX 2,600 ($33.97) in a report issued on Monday, October 22nd. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s target price would indicate a potential upside of 16.49% from the company’s current price.

BNZL has been the topic of a number of other research reports. Deutsche Bank lifted their target price on Bunzl from GBX 2,650 ($34.63) to GBX 2,660 ($34.76) and gave the company a “buy” rating in a research report on Friday, August 17th. Morgan Stanley assumed coverage on Bunzl in a report on Wednesday, September 19th. They set an “equal weight” rating and a GBX 2,600 ($33.97) price target on the stock. UBS Group lifted their price objective on Bunzl from GBX 2,300 ($30.05) to GBX 2,400 ($31.36) and gave the stock a “neutral” rating in a research note on Monday, September 3rd. Royal Bank of Canada cut their price objective on Bunzl from GBX 1,950 ($25.48) to GBX 1,800 ($23.52) and set an “underperform” rating on the stock in a research note on Friday, September 7th. Finally, Barclays reaffirmed an “overweight” rating on shares of Bunzl in a research note on Wednesday, August 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of GBX 2,367.83 ($30.94).

Shares of BNZL traded up GBX 9 ($0.12) during mid-day trading on Monday, hitting GBX 2,232 ($29.17). 600,587 shares of the company’s stock were exchanged, compared to its average volume of 1,290,000. Bunzl has a 52 week low of GBX 1,918.50 ($25.07) and a 52 week high of GBX 2,472 ($32.30).

Bunzl (LON:BNZL) last released its quarterly earnings data on Tuesday, August 28th. The company reported GBX 59.40 ($0.78) EPS for the quarter, beating the consensus estimate of GBX 59.10 ($0.77) by GBX 0.30 ($0.00).

In related news, insider Patrick Larmon sold 28,500 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of GBX 2,404 ($31.41), for a total transaction of £685,140 ($895,256.76). Also, insider Paul Nicholas Hussey sold 12,600 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of GBX 2,370 ($30.97), for a total value of £298,620 ($390,199.92). In the last 90 days, insiders have sold 45,966 shares of company stock valued at $109,762,440.

About Bunzl

Bunzl plc provides distribution and outsourcing services primarily in the North America, Continental Europe, the United Kingdom, Ireland, and internationally. It provides non-food consumables, including food packaging, napkins, disposable tableware, food service disposables, guest amenities, light and heavy catering equipment, cleaning and hygiene products, and safety items to hotels, restaurants, caterers, and food processors and packers, as well as the leisure sector.

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Analyst Recommendations for Bunzl (LON:BNZL)

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