PEARSON : UBS remains Buy on the stock
The price target remains unchanged at 1130 pence, representing potential upside of 18%.
' The reduction in earnings mainly reflects higher-than-expected financial expenses in 2024. We believe that organic growth is achievable in 2024, but note that there is downside risk' says UBS.
' The 2024 outlook for adjusted EBIT is c2% below the VA consensus. The forecast calls for organic growth of 3.7% against a VA consensus of 4.2% and a UBSe consensus of 4.5%. FCF in 2023 is raised to £387 million from £222 million in 2022' adds the analyst firm.
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