Reckitt Benckiser price target lowered to 5,500 GBp from 5,900 GBp at Citi

Citi lowered the firm’s price target on Reckitt Benckiser to 5,500 GBp from 5,900 GBp and keeps a Buy rating on the shares. The analyst believes the stock’s catalyst path remains complicated with a likely weak Q1 and the market putting a “sticky liability discount” on the name. However, beyond Q1, the risk/reward could turn more favorable with a valuation discount “likely to have overshot” and the increasing need for strategic decisions on portfolio and capital allocation should the turnaround fail, the analyst tells investors in a research note.