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In the first full week back after the Christmas period, City analysts have delivered upgrades for Royal Mail Group (LON:RMG).
Barclays Capital has lifted its recommendation to ‘overweight’ from ‘equal weight’, and set a price target of 575p which is some 29% above the current share price of 444p.
Elsewhere, Cantor Fitzgerald says the privatised postal group is now a ‘buy’.
Robin Byde, analyst at Cantor, reckons good progress has been made with cost cutting and that worries over future wage negotiations, pensions costs and regulation are overstated.
“We believe that the strengths and value of the company’s established networks and brands, in the fast changing delivery world, are underappreciated,” he said in a note.
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Royal Mail's strengths and value are underappreciated, Cantor says
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Royal Mail's strengths and value are underappreciated, Cantor says
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