London, March 13, 2026, 16:55 GMT
Rentokil Initial hovered just below its 52-week high through Friday, after surging 5.16% to 491.4 pence during Thursday’s session. Brokers are leaning in, convinced that North American operations are gaining traction. Friday’s range: 479.2p to 490.7p, still a hair off the 12-month peak at 493.9p, according to market data.
North America is still Rentokil’s top market—and since the 2022 Terminix deal, that’s where investor attention sits. The leadership baton passes Monday to Mike Duffy, who joins as chief executive after a stint at OnTrac, with the company looking to convert its uneven U.S. rebound into more reliable gains.
Rentokil’s full-year numbers, posted March 5, shed light on the recent burst of buying. For 2025, revenue moved up 3.8% to $6.91 billion. Adjusted operating profit also pushed higher, up 5.4% to $1.07 billion. Organic revenue growth picked up in the back half—3.5%, compared to just 1.6% in the first six months.
North America remains under the microscope, with organic revenue up 3.6% in the fourth quarter. Pest-control services in the region managed 2.6% growth, a notable bump from just 0.1% in the first half. Outgoing CEO Andy Ransom described 2025 as “a year of encouraging progress,” adding that the company’s current plans leave it confident about hitting 2026 targets. Rentokil Initial
Broker upgrades came in fast. UBS’s Nicole Manion bumped the stock up to buy from neutral, hiking her target to 540p from 430p. She flagged a likely return to organic volume growth and suggested the “valuable compounder” — analyst-talk for businesses with reliable long-term growth — may be making a comeback here. Jefferies followed suit with a buy call, its target also going to 540p from 475p, citing a “strategic inflection” and arguing North American volumes could find a floor by the end of 2026. TipRanks
Wednesday brought a change in sentiment. Rothschild & Co Redburn bumped up Rentokil to neutral from sell and moved its target price higher, now at 470p instead of 420p. The upgrade pushed shares up 2.48% that day, despite a softer market backdrop.
A new insider move cropped up this week. According to AJ Bell, Duffy and a related party picked up 16,000 American depositary shares in New York on Monday, paying $30.96 apiece—a total outlay of roughly $495,334. Non-executive director Samuel Mitchell also stepped in, buying 3,225 depositary shares at that same price. Each U.S. depositary share represents five ordinary Rentokil shares.
Rollins is still the go-to benchmark in U.S. pest control, and that’s shaped the response here. Last year, Reuters noted analysts were tracking Rollins’ stronger North America growth rates to gauge if Rentokil was actually clawing back lead flow and holding onto customers, after the Terminix integration headache.
The work isn’t done yet. Rentokil flagged that January trading in North America took a hit from weather disruptions, stuck with its 2026 guidance citing ongoing geopolitical uncertainty, and bumped its total provision for termite-damage claims up to $201 million. On the March 5 call, Ransom pointed out that the next hurdle is turning those gains in lead flow and sales into more consistent revenue.
Investors appear content to wait and see with the new chief executive. Shares have climbed 53.56% in the past year, according to Hargreaves Lansdown. Analysts polled by Marketscreener put their average target at 514.6p, just a touch higher than Thursday’s 491.4p finish.
