Bunzl's Margin Outlook Appears Conservative -- Market Talk

0745 GMT - Bunzl's management has been cautious about margin sustainability, Bernstein's Will Kirkness and Filippo Giardini write in a note. The U.K. distribution and services group said it now expects its full-year operating margin to be broadly flat instead of slightly down on year previously. "While the outlook was slightly upgraded, EBITA margins are still expected to be back year-on-year in the second half." Bernstein cuts its recommendation on the stock to market-perform from outperform and its target price to 30 pounds from 31 pounds. Shares are down 0.7% at 27.22 pounds. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

September 02, 2026 03:46 ET (07:46 GMT)