Deutsche Bank raises target price on Ashtead

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Published Dec 08, 2022 14:00

Updated Dec 08, 2022 14:11

Deutsche Bank raises target price on Ashtead

Sharecast - Deutsche Bank (ETR:DBKGn) said Ashtead (LON:AHT)'s first quarter results were "positive" and reflected the fact that the firm's corner of the market remained "good", as well as its own execution.

The German bank believes this will likely continue until the first half of 2023 but updated its earnings forecasts to reflect weakness in 2024 and 2025.

Deutsche Bank also reiterated its 'hold' rating on Ashtead's shares.

Reporting by Iain Gilbert at Sharecast.com

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