PZ Cussons' Balance Sheet Provides Flexibility for Shareholder Returns
Dow Jones
Oct 01
1247 GMT - PZ Cussons has the flexibility to return cash to shareholders given its improved balance sheet, J. P. Morgan's Edward Hockin and Celine Pannuti write. The Imperial Leather and Carex owner could also pursue progressive dividends and potential bolt-on acquisitions, they add. However, the analysts say input-cost inflation could hurt near-term earnings. "Further proof points on sustainable earnings compounding may be needed to significantly re-rate the stock," they say. J. P. Morgan has a neutral rating on the stock and 110 pence target price. Shares are down 3.2% at 94.90 pence, but 28% higher over the year-to-date.
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