Goldman Sachs has upgraded Bunzl plc (LON:BNZL) from Sell to Neutral, pointing to a more balanced risk/reward profile after a steep share price drop this year. The bank set a 12-month price target of 2,510p, implying about 5% upside from current levels, according to Reuters.
Bunzl, the British distribution and outsourcing company, has seen its stock fall roughly 30% in 2025, weighed down by an April profit warning that lowered growth and margin expectations for next year. That warning was tied in part to weakness in its North American operations, which generate around 60% of group revenue, as reported by The Times.
