Smiths Group downgraded to Hold from Buy at Jefferies

Jefferies downgraded Smiths Group (SMGZY) to Hold from Buy with a price target of 1,930 GBp, down from 2,180 GBp. The firm says 2025 will likely be another mixed year for the UK industrials sector, “as there is plenty of uncertainty.” Is is too early to “go all in” on the cyclicals, but there should be some attractive end markets to focus on, and equity stories to buy into, the analyst tells investors in a research note. Jefferies adjusted ratings as part of its 2025 outlook.