Bunzl (BNZL)

Sector:

Retailers

Index:

FTSE 100

3,412.00p
   
  • Change Today:
    -20.00p
  • 52 Week High: 3,714.00
  • 52 Week Low: 2,875.00
  • Currency: UK Pounds
  • Shares Issued: 334.63m
  • Volume: 789,888
  • Market Cap: £11,418m
  • RiskGrade: 114

Credit Suisse upgrades Bunzl in view of clients' medium-term focus on sustainability

By Alexander Bueso

Date: Monday 07 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Credit Suisse upgraded shares of Bunzl from 'underperform' to 'neutral' and hiked their target price from 2,450.0p to 2,900.0p, telling clients that product inflation and corporates' sustainability agenda would more than offset a decline in Covid-related work, especially over the medium-term.
"In the mid to longer term we think that Bunzl's scale and agnostic approach to product type means it can play an active role in supporting companies meet their sustainability targets," they said in a research note sent to clients.

Other supportive factors cited by the analysts included value-added mergers and acquisitions, as well as "relatively stable" end markets.

Combined, those last two factors should support mid-single digit total profit growth for the core business in the coming years, they argued.

Furthermore, "rising demand for higher margin own brand products in an inflationary environment should provide greater support going forward."

All told, they raised their earnings per share estimates for 2022-24 by 8.0-12.0%.

Nonetheless, the company also had its negatives, including "limited" organic growth, the full valuation of its shares and the near-term risks surrounding the renewal of its contract with its largest client, with the latter due to complete in 2022.

Regarding the valuation of its share price, Credit Suisse estimated that they were changing hands on 2023 price-to-earnings multiple of 17.2, against a 10-year average of 17.5.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Bunzl Market Data

Currency UK Pounds
Share Price 3,412.00p
Change Today -20.00p
% Change -0.58 %
52 Week High 3,714.00
52 Week Low 2,875.00
Volume 789,888
Shares Issued 334.63m
Market Cap £11,418m
RiskGrade 114

Bunzl Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.84% below the market average96.84% below the market average96.84% below the market average96.84% below the market average96.84% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
59.86% above the market average59.86% above the market average59.86% above the market average59.86% above the market average59.86% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
65.73% below the market average65.73% below the market average65.73% below the market average65.73% below the market average65.73% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
40.54% below the market average40.54% below the market average40.54% below the market average40.54% below the market average40.54% below the market average
Sector averageSector averageSector averageSector averageSector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 8
Sell 4
Strong Sell 2
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Bunzl Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Nov-24 16-May-24
Paid 03-Jan-25 02-Jul-24
Amount 20.10p 50.10p

Trades for 31-Oct-2024

Time Volume / Share Price
16:36 191 @ 3,412.00p
16:36 1,300 @ 3,412.00p
16:35 250 @ 3,412.00p
16:35 19,429 @ 3,412.00p
16:35 8,351 @ 3,412.00p

Bunzl Key Personnel

CFO Richard Howes
Chair Peter Ventress

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