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Home Companies Company News

Goldman Sachs cuts PZ Cussons down to “neutral”

Nairametrics by Nairametrics
June 19, 2015
in Company News
Earnings Guidance: PZ Cussons Plc signals improved Q3 performance
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Goldman Sachs has cut the rating of  PZ Cussons (UK) down to “neutral” vs “buy” and removed it from pan-Europe buy list.

According to Reuters, Goldman reckons PZ Cussons (UK) has outperformed the sector by 14 percent YTD and has re-rated to 19x 12m fwd P/E, from 16x at the beginning of 2015.

PZ Cussons Nigeria, which happens to be the company’s biggest market reported pre-tax of N3.9billion representing a 23% drop year on year.

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PZ  Cussons Nigeria share price is up 33% YTD and closed flat at N31.77

 

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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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