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The healthcare firm said it was on track to meet full-year revenue expectations in a trading update. But it flagged that profits would be unlikely to grow in 2024 due to increased investment in sales and marketing. "The group needs to reinvest before renewed growth," Peel Hunt said, with a hold recommendation and 53p price target.

SERCO

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US buyout firm American Industrial Partners approached Serco about a £2.5bn takeover last year. Peel Hunt noted that Serco generates a quarter of its revenues in North America, with sizables defence and citizen services business of around £850m and £300m respectively. The broker left its price target at 217p and rating of buy.

(c) 2024 City A.M., source Newspaper