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Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
Bunzl plc OUTPERFORM 01/04/21 N/A N/A 2658p
DCC OUTPERFORM 30/06/09 N/A N/A 6010p
Electrocomponents plc UNDERPERFORM 01/04/21 N/A N/A 1048p
Hays plc OUTPERFORM 01/04/21 N/A N/A 154p
HomeServe plc OUTPERFORM 01/04/21 N/A N/A 963p
Intertek Group plc UNDERPERFORM 01/04/21 N/A N/A 5546p
IWG plc OUTPERFORM 01/04/21 N/A N/A 315p
PageGroup plc OUTPERFORM 01/04/21 N/A N/A 609p
Rentokil Initial plc OUTPERFORM 01/04/21 N/A N/A 529p
RWS Holdings plc OUTPERFORM 01/04/21 N/A N/A 556p
Serco Group plc OUTPERFORM 01/04/21 N/A N/A 143p

DAVY VIEW

The sector’s sharp sell-off in the last two weeks has begun to reverse in the last few days, while the Marlowe bid for Restore demonstrates that corporates as well as Private Equity are seeing greater value than the equity market. This report looks at the staffers – Hays saw a draconian reaction to its figures (despite more upgrades); Manpower and Robert Half reported this week in the US; and PageGroup management presented at Davy. We also note continued positive earnings momentum at DCC and preview Rentokil Initial and Intertek H1 results next week.

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Jul 26 2021, 06:30 IST/BST

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