Jefferies analyst Peter Welford downgraded GSK (GSK) to Hold from Buy with a price target of $39.50, down from $53. The firm finds it “frustrating” that despite the favorable Zantac settlement, robust performance of GSK’s Specialty unit,

Jefferies lowered GSK (NYSE:GSK) to hold, citing a valuation disconnect between fundamentals and price. Jefferies said it still regards GSK’s fundamental value as “compelling,” adding that its 2027+ estimates for sales and profits remain above consensus.

Jefferies downgraded Big Yellow Group (BYLOF) to Hold from Buy with a price target of 1,224 GBp, down from 1,359 GBp. The firm says real estate