UBS upgrades Rentokil to Buy with 540p target as North America turnaround takes hold

Rentokil Initial PLC (LSE:RTO), the FTSE 100 pest control and hygiene services group, received a significant vote of confidence on Thursday as UBS upgraded the stock from neutral to buy. The Swiss bank also lifted its price target from 430p to 540p, arguing that three years of self-inflicted market share losses in North America are finally coming to an end.