Berendsen downgraded by HSBC

Equity research analysts at HSBC have cut their rating in respect of textile services business Berendsen (LON:BRSN) to hold (from buy), given the limited upside to its new 940p a share target price (previously 1,070p).

The bank said it has updated its forecasts for FX changes, the UK performance and the company’s guidance.

It added: “The last few months have been hard for Berendsen but we believe that is reflected in the price more fully. The market is sceptical but a bold reinvestment in the UK plant, process and people is probably what is needed.”

At 3:41pm: (LON:BRSN) Berendsen Plc share price was -114.25p at 815.25p

Story provided by


Claim 12 issues of MoneyWeek (plus much more) for just £12!

Let MoneyWeek show you how to profit, whatever the outcome of the upcoming general election.

Start your no-obligation trial today and get up to speed on:

  • The latest shifts in the economy…
  • The ongoing Brexit negotiations…
  • The new tax rules…
  • Trump’s protectionist policies…

Plus lots more.

We’ll show you what it all means for your money.

Plus, the moment you begin your trial, we’ll rush you over THREE free investment reports:

‘How to escape the most hated tax in Britain’: Inheritance tax hits many unsuspecting families. Our report tells how to pass on up to £2m of your money to your family without the taxman getting a look in.

‘How to profit from a Trump presidency’: The election of Donald Trump was a watershed moment for the US economy. This report details the sectors our analysts think will boom from Trump’s premiership, and gives specific investments you can buy to profit.

‘Best shares to watch in 2017’: Includes the transcript from our roundtable panel of investment professionals – and 12 tips they’re currently tipping. The report also analyses key assets, including property, oil and the countries whose stock markets currently offer the most value.