| Date | Broker name | New | Price | Old price target | New price target | Broker change |
|---|---|---|---|---|---|---|
| 17-Oct-25 | UBS | Sell | 4,665.00p | - | 4,120.00p | Reiteration |
| 03-Oct-25 | Deutsche | Buy | 4,392.00p | 5,100.00p | 5,050.00p | Reiteration |
| 01-Oct-25 | Jefferies | Underperform | 4,372.00p | 3,900.00p | 3,800.00p | Reiteration |
| 05-Sep-25 | UBS | Sell | 4,769.00p | - | 4,120.00p | Reiteration |
| 06-Aug-25 | Deutsche | Buy | 4,515.00p | 4,900.00p | 5,100.00p | Reiteration |
| 04-Aug-25 | RBC Capital Markets | Underperform | 4,496.00p | 3,800.00p | 3,900.00p | Reiteration |
| 04-Aug-25 | Jefferies | Underperform | 4,496.00p | 3,800.00p | 3,900.00p | Reiteration |
| 01-Aug-25 | Berenberg Bank | Buy | 4,531.00p | 5,500.00p | 5,570.00p | Reiteration |
| 04-Jul-24 | JP Morgan Cazenove | Overweight | 4,336.00p | - | - | Reiteration |
| 02-Jul-24 | Jefferies | Underperform | 4,308.00p | 3,700.00p | 4,000.00p | Reiteration |
| 23-May-24 | JP Morgan Cazenove | Overweight | 4,312.00p | 3,600.00p | 5,100.00p | Upgrade |
| 25-Apr-24 | Berenberg Bank | Buy | 4,082.00p | - | 4,960.00p | Reiteration |
| 08-Apr-24 | Barclays | Overweight | 3,817.00p | - | 4,600.00p | Reiteration |
| 20-Mar-24 | Jefferies | Underperform | 3,929.00p | - | 3,400.00p | Reiteration |
| 09-Feb-24 | Jefferies | Underperform | 4,005.50p | - | 3,400.00p | Reiteration |
| 08-Feb-24 | Berenberg Bank | Buy | 4,024.50p | - | 4,960.00p | Reiteration |
| 09-Nov-23 | Barclays | Overweight | 3,984.50p | 4,300.00p | 4,600.00p | Upgrade |
| 03-Jul-23 | Barclays | Equal-weight | 4,115.50p | - | 4,300.00p | Reiteration |
| 03-Jul-23 | Berenberg Bank | Buy | 4,115.50p | - | 10,000.00p | Reiteration |
| 12-Apr-23 | Barclays | Equal-weight | 4,292.00p | - | 4,300.00p | Reiteration |
| 06-Apr-23 | Jefferies | Buy | 4,307.50p | 4,650.00p | 4,650.00p | Reiteration |
| 14-Feb-23 | Deutsche | Buy | 4,266.50p | 4,400.00p | 4,600.00p | Reiteration |
| 13-Feb-23 | Jefferies | Buy | 4,262.00p | - | 4,650.00p | Reiteration |
| 10-Feb-23 | RBC Capital Markets | Sector perform | 4,132.50p | 3,900.00p | 3,800.00p | Reiteration |
| 18-Jan-23 | Barclays | Equal-weight | 4,095.00p | 4,300.00p | 4,300.00p | Reiteration |
| 18-Jan-23 | Jefferies | Buy | 4,095.00p | - | 4,500.00p | Reiteration |
| 15-Dec-22 | Deutsche | Buy | 4,137.00p | 4,500.00p | 4,000.00p | Reiteration |
| 09-Nov-22 | Berenberg Bank | Buy | 4,070.00p | 4,800.00p | 4,800.00p | Reiteration |
| 07-Nov-22 | Deutsche | Buy | 4,032.00p | 4,500.00p | 4,500.00p | Reiteration |
| 28-Oct-22 | Deutsche | Buy | 3,918.00p | 4,500.00p | 4,500.00p | Reiteration |
| 18-Oct-22 | RBC Capital Markets | Sector perform | 3,893.50p | 3,600.00p | 3,900.00p | Reiteration |
| 27-Sep-22 | Deutsche | Buy | 4,078.50p | 4,600.00p | 4,600.00p | Reiteration |
| 26-Sep-22 | Berenberg Bank | Buy | 4,100.00p | 4,000.00p | 4,800.00p | Upgrade |
| 22-Sep-22 | Barclays | Equal-weight | 4,054.50p | 4,300.00p | 4,300.00p | Reiteration |
| 27-Jul-22 | Berenberg Bank | Hold | 3,995.50p | 4,000.00p | 4,000.00p | Reiteration |
| 27-Jul-22 | Deutsche | Buy | 3,995.50p | 4,600.00p | 4,600.00p | Upgrade |
| 20-Jul-22 | Barclays | Equal-weight | 3,893.00p | 4,000.00p | 4,000.00p | Reiteration |
| 19-Jul-22 | Berenberg Bank | Hold | 3,943.00p | 3,800.00p | 4,000.00p | Reiteration |
| 06-Jul-22 | JP Morgan Cazenove | Underweight | 3,871.00p | - | - | Reiteration |
| 01-Jun-22 | Deutsche | Hold | 3,705.00p | - | 4,600.00p | Reiteration |
| 01-Jun-22 | RBC Capital Markets | Sector perform | 3,705.00p | - | 3,400.00p | Reiteration |
| 17-May-22 | Berenberg Bank | Hold | 3,666.00p | - | 3,800.00p | Reiteration |
| 12-May-22 | JP Morgan Cazenove | Underweight | 3,688.50p | - | - | Reiteration |
| 11-May-22 | Morgan Stanley | Equal-weight | 3,690.50p | - | - | Reiteration |
| 04-May-22 | RBC Capital Markets | Sector perform | 3,622.00p | - | 3,400.00p | Reiteration |
| 03-May-22 | Berenberg Bank | Hold | 3,658.50p | 3,650.00p | 3,800.00p | Reiteration |
| 24-Apr-22 | Morgan Stanley | Equal-weight | - | - | 3,800.00p | Reiteration |
| 14-Apr-22 | Morgan Stanley | Equal-weight | 3,429.00p | - | - | Reiteration |
| 06-Apr-22 | Barclays | Equal-weight | 3,497.50p | 4,600.00p | 4,000.00p | Reiteration |
| 04-Apr-22 | JP Morgan Cazenove | Underweight | 3,520.00p | - | - | Reiteration |
| Currency | UK Pounds |
| Share Price | 4,589.00p |
| Closing Price Change | -17.00p |
| % Change | 0.00 % |
| 52 Week High | 4,881.00p |
| 52 Week Low | 4,337.00p |
| Volume | 0 |
| Shares Issued | 2,451.89m |
| Beta | 0.44 |
| RiskGrade | 121 |
| Value |
|
|---|
| Price Trend |
|
|---|
| Income |
|
|---|
| Growth | ![]() |
|---|
| Strong Buy | 6 |
| Buy | 7 |
| Neutral | 3 |
| Sell | 1 |
| Strong Sell | 2 |
| Total | 19 |

| Latest | Previous | |
|---|---|---|
| Q3 | Q2 | |
| Ex-Div | 06-Nov-25 | 14-Aug-25 |
| Paid | 05-Dec-25 | 12-Sep-25 |
| Amount | 39.28p | 39.16p |
| CEO | Fernando Fernandez |
| CFO | Srinivas Phatak |
You are here: research