Growth UncertaintyThere is uncertainty in achieving growth at the upper end of the company's guidance, which could limit the stock's attractiveness.
Valuation ConcernsThe stock is trading at a 20% premium to peers, which limits further upside unless there is a clearer path to higher growth.
Valuation PressureHaleon's stock is now trading at a 25% premium to EU Staples, indicating less room for further substantial outperformance in the near term.