Bunzl Shares Face Mixed Analyst Outlook After Latest Downgrade

Bunzl (LON: BNZL) shares have climbed 5.7% year to date but remain more than 26% lower over the past 12 months, as analysts continue to reassess the company’s outlook and pricing power.

Data from TradingView shows that seven analysts currently rate the stock a Buy, nine recommend holding it, and four rate it a Sell. The consensus price target stands at 2,434p, implying potential upside of 10.6% from Thursday’s close.

The latest shift came from Barclays, where analyst James Rose downgraded Bunzl to Equal Weight from Overweight and cut the price target to 2,250p from 2,750p.

Rose warned of downside risks to the company’s 2026 guidance should inflation reaccelerate or if major customers continue resisting price increases. That pressure, Barclays said, could limit Bunzl’s ability to maintain margins in the medium term.

The move follows another downgrade earlier this year from BNP Paribas, which shifted its rating to Neutral from Outperform with a 2,350p target.

BNP Paribas said it saw better share opportunities elsewhere in the sector, pointing to a more challenging competitive backdrop.

While Bunzl has benefited from pockets of operational resilience, analysts believe the stock’s trajectory now hinges on broader inflation trends and the company’s ability to manage customer negotiations.