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Shanks cut by Credit Suisse

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Waste management firm Shanks (LON:SKS) has been downgraded to ‘neutral’ from ‘outperform’ by heavyweight investment house Credit Suisse after the stock hit its 110p a share price target.

It says the fundamentals of the business remain intact, but the current valuation is fair. 

It points out that Shanks is trading at around 20 times prospective earnings, while the dividend yield is 3.2%.

Shanks is delivering on its structural cost-cutting targets and remains well-positioned in its core niche markets. We now see this reflected in the valuation,” it said in a note to clients.

In the year to date the shares (down 0.81p at 109.19p) have rallied 25% and are up 17.4% in the last month alone.


Quick facts: Shanks

Price: - -

AIM:SKS
Market: AIM
Market Cap: -
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