FLT - Citi rates the stock as Sell
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Post the AGM's guidance for underlying profits before tax to rise by between 6%-19% on the prior year, Citi analysts have added 2% on top of their estimated growth numbers.
The analysts make no change to their Sell rating as they remain of the view the current share price is already reflecting all of the stated cost-out benefits. From here onwards, say the analysts, upgrades to transformation targets are required to drive meaningful further upside.
Target price lifts to $45.50 from $43.70.
Sector: Consumer Services.
Target price is $45.50.Current Price is $47.45. Difference: ($1.95) - (brackets indicate current price is over target). If FLT meets the Citi target it will return approximately -4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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