Market's view on Rentokil Initial
Published on April 2024
- Stock watcher notes that the price dropped around pre-result and is monitoring from the sidelines.
- Beacon Rise Holdings PLC has issued new shares at a premium price, which is seen as a possible precursor to a reverse takeover.
- Concerns about Verditek Plc, now EARNZ plc, as it has become an AIM Rule 15 cash shell and must complete a reverse takeover within six months or face suspension and cancellation from trading on AIM.
- Stock watcher comments that recent results look good but requires further comparison to market estimates.
- A conference call is planned to be nearly two hours long, raising questions about potential significant announcements.
- Rentokil Initial’s upcoming management presentation is expected to be longer than usual, indicating important discussions.
- Rollins’ stock dropped due to a slowdown in North America, suggesting a broader market trend rather than a company-specific issue.
- AJAX Resources PLC is making progress toward an acquisition in the natural resources sector amidst a recovering UK market sentiment.
- Rentokil Initial’s share price target was cut by RBC Capital Markets amid revised forex and synergy forecasts, though the long-term outlook is still positive.