Barclays upgrades Halma to 'overweight'

9th Apr 2024 08:10

(Sharecast News) - Barclays upgraded Halma on Tuesday to 'overweight' from 'equalweight' and lifted the price target to 2,650p from 2,425p.

"Against an expected declining interest rate backdrop later this year, bond proxy, high quality, EPS compounders are likely to come more into focus," Barclays said.

In UK Capital Goods, two names fit this criteria, Halma and Spirax Group, it said.

Barclays said that based on its comparative framework its relative preference is for Halma, hence the upgrade.

At 0950 BST, the shares were up 1.7% at 2,286.90p.