Good fundamentals and an interesting technical configuration militate for a forthcoming acceleration.
Financials forecast are encouraging, sales and EBITDA are expected to increase of more than 7%. EPS estimates were upward revised by the Thomson Reuters consensus over the past 12 months.
Technically, the security is in a bullish trend in the long term and has been evolving in a consolidation tunnel for about 3 months. Some technical aggregates are in favor of an acceleration. Indeed, the share is currently near its short term support and almost on contact with its 100-day moving average.
Consequently, investors may open a long position at current prices and target the GBp 1912 and 1950 resistances. A stop-loss should be set below the GBp 1826 support.
Bunzl plc specializes in the distribution of hygiene and safety packages, products, and materials. The group also offers packaging products, restaurant items (cutlery, glassware, kitchen utensils, etc.), cleaning products (soaps, detergents, toilet paper, custodial products, polishes, washing machines, etc.), and personal protection equipment (gloves, masks, clothing, etc.).
Net sales break down by sector into food services (29.8%), grocery stores (26.1%), safety (14.8%), retail (9.6%), hygiene and cleaning (9.3%), healthcare (7%), and other (3.4%).
Net sales are distributed geographically as follows: the United Kingdom and Ireland (12%), Continental Europe (18%), North America (61.2%) and other (8.8%).
BUNZL PLC 
