However, the consumer-healthcare company has switched its focus from operating margins to operating profit growth of 9%-11% at constant currency, they say, noting that this implies a 2% downgrade to operating profit compared with current market views. "As we have highlighted before, we believe the market was pricing a low probability of the permit being received before the end of the year," the analysts say. RBC estimates the precious-metals miner's net asset value per share at 180 pence and at 133 pence had the permit been denied, they say. RBC keeps an outperform rating and a 100 pence price target on the stock. (christian.moess@wsj.com)Contact: London NewsPlus, paul.larkins@wsj.com(END) Dow Jones NewswiresAugust 02, 2023 12:04 ET (16:04 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal August 02, 2023 16:13 UTC