Genus plc (LON:GNS) was downgraded to ‘hold’ from ‘buy’ by house broker Peel Hunt over coronavirus disruption across its markets.
The supplier to cattle and pig farmers took a material hit in its Chinese business, with deliveries being delayed during the lockdown, while the US supply chain has been hit by closures of several plants after workers tested positive.
However, the Chinese market rebound is likely to offset the short-term issues in the US, analysts suggested, maintaining the 3,470p target price.
“We see Genus as resilient in the short term and very well positioned for the long term,” the broker commented.
“This can be seen in the increasing genetic lead, the increase in long-term expectations and the remarkable numbers in the latest bull statistics.”
Shares dipped 2% to 3,518p on Thursday at noon.