Rentokil Initial upgraded to Market Perform from Underperform at Bernstein

Bernstein upgraded Rentokil Initial to Market Perform from Underperform. A front page article in The Sunday Times business section reported that Rentokil could be subject to a takeover bid, which will likely put a floor under valuation in the near term, the analyst tells investors in a research note. The firm says that following company defined steps to address retention and improve customer acquisition as well as the stake by Trian Partners, investors “had been increasingly willing to look through near term negative noise.”