David Hayes Reiterates Hold Rating on Reckitt, Keeps $5600 Price Target Amid Heightened NEC Litigation Risks
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Jefferies analyst David Hayes has reiterated a Hold rating on Reckitt (RKT) stock, maintaining a price target of $5600. This decision is influenced by ongoing NEC litigation risks involving Mead Johnson, a Reckitt subsidiary. The court's refusal to grant summary judgment means the case will proceed to a jury, increasing legal risks. Hayes sees limited justification for significant changes to the investment outlook at this time. RBC Capital also holds a Hold rating on the stock with a price target of p6,200.00.
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