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BUZZ-Bunzl: hits 5.5-month high on Barclays upgrade

Reuters - UK Focus

** UK distribution and outsourcing service company's shares up 1.2 pct, at highest level in 5.5 months

** Barclays (LSE: BARC.L - news) raises rating to "overweight" from "equal weight", target price upped to 2550 pence

** "Organic growth and acquisition spending are at an inflection point, while the medium-term earnings power of the business remains amongst the highest of the 30 companies we cover in the sector," Barclays says

** "Organic revenue growth was zero in 2016, but we expect this to accelerate to 4 pct in 2017 as a result of recent contract wins," Barclays says

** Second-top performer on FTSE 100 index

** Up to Monday's close, shares up about 11 pct this year, compared with a 4 pct rise by FTSE 100 index