Reckitt Benckiser – Buy

Please read our recommendation on Reckitt Benckiser, the world’s largest producer of household products which include Vanish, Harpic, Cillit Bang, Air Wick and Dettol amongst others.

This is a defensive stock that we feel is a core holding during the current economic environment. Trading on a prospective 13x P/E multiple, at the bottom end of its ten-year historical P/E range, we believe the current share price of 3191p represents an attractive entry point. Nomura has a 3900p price target. A prospective dividend yield of 3.9% is also an attractive proposition.