Bunzl (BNZL.L) 14-01-20
Will Bunzl (BNZL.L) break the range resistance or continue down to retest the 1978p support?(-6%)
- Currently close to the 2128p level. Now 2112p (at time of writing).
- The range has the potential to appeal to short sellers.
- The price is again testing the upper end of the range.
- Will the pattern repeat and drive the price to the lows at 1978p? (-6%).
- Traders should be mindful of breaking news. Check news outlets for updates.
- Shares -17% from 12-month highs; +8% from 12 month lows.
10 Jan: RBC Capital Markets reiterates its underperform rating on Bunzl (BNZL) and reduced the target price to 1700p (from 1800p).
09 Jan: Bunzl, the distribution and services group, announced that it had taken over Joshen Paper & Packaging to expand its US operations.
08 Jan: UBS reiterates its neutral rating on Bunzl (BNZL) and reduced the target price to 2150p (from 2250p).
19 Dec: Goldman Sachs reiterates its buy rating on Bunzl (BNZL) and reduced the target price to 2450p (from 2500p).
17 Dec: JP Morgan Cazenove reiterates its neutral rating on Bunzl (BNZL) and reduced the target price to 2340p (from 2410p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires