Deutsche Bank cuts RS Group to hold as industrial recovery outlook clouds

RS Group shares fell almost 3% after Deutsche Bank downgraded the stock from buy to hold and cut its price target to 700p from 800p. The stock was last at 571.5p, down 8% year-to-date, implying limited near-term upside and weaker analyst conviction.

Analysis

RS Group shares fell almost 3% after Deutsche Bank downgraded the stock from buy to hold and cut its price target to 700p from 800p. The stock was last at 571.5p, down 8% year-to-date, implying limited near-term upside and weaker analyst conviction.