Rentokil Initial price target raised to 475 GBp from 445 GBp at BofA

BofA raised the firm’s price target on Rentokil Initial to 475 GBp from 445 GBp and keeps a Neutral rating on the shares. The firm’s adjusted EPS forecasts for FY24 and FY25 are “broadly unchanged,” but it applies increased target multiples on improving momentum, the analyst tells investors.