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Investing.com - RBC Capital raised its price target on Smith & Nephew PLC (LON:SN) (NYSE:SNN) to GBP17.00 from GBP14.00 on Monday, while maintaining an Outperform rating on the medical technology company.
The price target increase comes ahead of Smith & Nephew’s Capital Markets Day (CMD) in December, where RBC expects the company to provide guidance of 5-6% revenue compound annual growth rate (CAGR) and 2-3 percentage points of EBIT margin expansion through 2028.
RBC believes this guidance would be received positively by investors, as it implies low single-digit upside to current consensus estimates at the midpoint of the range.
The firm remains "cautiously optimistic" about Smith & Nephew’s upcoming third-quarter results, scheduled for release on November 6, 2025.
RBC attributed its higher price target to rolling forward its valuation model while maintaining its Outperform rating on Smith & Nephew shares.
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