RENK Group Overvaluation Sparks Sell Recommendation

11 days ago

Louise Moon

"and Rank Group. Their shares plunging after city analysts changed their recommendation to sell. Indeed, this is the the German tank company. They make kind of systems for for vehicles and machinery. So, a downgrade from City. They've cut them from a neutral to a cell and analysts are saying that shares are too expensive. So, so Rank Group has kind of been caught up in this wider defense rally that we've been seeing. Um, and and a quote from the analyst, I I thought I should read it out as as quite blunt. It says, "Even pushing our valuations to the upper end of what we feel is a credible scenario. We believe rank is overvalued and we're downgrading to a sell. They've set a new price target of 64. Um, and shares are falling as much as 5% this morning, closer to that price target. They're around 68 now. And that follows an almost 300% year-to-date rally as of yesterday's close.""

City analysts have downgraded RENK Group to sell, calling the stock overvalued even under optimistic scenarios, and setting a price target of 64. This comes after a significant rally, with shares dropping approximately 5% towards the target, suggesting an immediate sell signal.

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