RBC Capital upgrades Workspace to 'outperform'
Workspace Group
496.50p
09:34 23/04/24
0.30%
1.50p
RBC Capital Markets upgraded Workspace to ‘outperform’ from ‘sector perform’ on Wednesday, hiking the price target to 1,050p from 750p as it said a recovery was not reflected in the shares.
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09:34 23/04/24
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"We believe Workspace's share price performance since the pandemic broke reflects the negative impact on its business from its flexible leases, but none of the potential for a strong recovery," RBC said.
"Its business is well-placed for such a recovery in our view, something that does not appear to be reflected in consensus forecasts."
RBC said the target price increase results in 28% potential total return.
At 0930 BST, Workspace shares were up 1.5% at 840.50p.