UDG downgraded by Berenberg

08th May 2017, 15:05

Berenberg Bank has downgraded its investment rating on UDG Healthcare [LON:UDG] to hold (from buy), saying that the shares now looks fully valued.

The broker said: "We still believe that UDG is a high quality, well-run company with plenty of opportunities for organic and inorganic growth.

"However, the stock's recent strong performance (+23% in the last 12 months; 10% outperformance versus the SXDP) leaves it looking fully valued even in the context of a broader sector rally."

Analysts left their price target unchanged at 745 pence per share.

At 3:05pm: [LON:UDG] UDG Healthcare PLC share price was -20.75p at 739.75p