Reckitt Benckiser (RKT) Share Price Steadies as JPMorgan Lifts Target and Buyback Rolls On

Reckitt Benckiser Group plc (LON:RKT) traded slightly higher this afternoon around 5,888–5,890p, recovering from early losses on the FTSE 100. ^[1]
JPMorgan has raised its price target on Reckitt to 6,100p (from 5,500p) while keeping a neutral rating, in a fresh round of London broker updates today. ^[2]
The company continued its £1 billion share buyback programme, disclosing the purchase of 59,770 shares in a new “Transaction in Own Shares” announcement this morning. ^[3]

Reckitt Benckiser share price today: RKT edges higher after early wobble

London, 26 November 2025 – Reckitt Benckiser shares spent the morning in the red before clawing back losses to trade modestly higher by early afternoon.

At around 13:53 UK time, RKT was quoted at 5,888p, up about 0.3% on Tuesday’s close of 5,870p, with an intraday range of roughly 5,808p–5,920p. ^[4]
The move leaves the stock trading close to the upper end of its 52‑week range (approximately 4,579p–6,014p), underlining the recovery in sentiment around the consumer goods group in 2025. ^[5]

Early in the session, Reckitt was among the FTSE 100 fallers, changing hands around 5,832p (‑0.65%) in the opening market report from Sharecast. ^[6] A separate FTSE live blog later noted the stock down around 0.5% at 5,842p as consumer staples lagged the index. ^[7]

As the day progressed, buying interest returned and the shares nudged back into positive territory, helped by supportive broker commentary and continued evidence of disciplined capital returns.

JPMorgan lifts Reckitt Benckiser price target to 6,100p

One of today’s key headlines for Reckitt is a fresh broker move from JPMorgan.

In a London broker ratings round‑up published this morning, JPMorgan raised its price target on Reckitt Benckiser to 6,100p from 5,500p, while reiterating a “neutral” stance on the shares. ^[8]

With the stock trading around 5,888–5,890p in the early afternoon session, the new target implies modest upside of roughly 3–4% versus today’s level – signalling that the bank sees limited valuation headroom in the near term, but no compelling reason to turn negative either.

The JPMorgan move comes on top of a series of target price increases from other brokers in recent weeks, following Reckitt’s upbeat third‑quarter trading update and confirmation of its 2025 guidance. Several analysts have highlighted:

Stronger like‑for‑like growth in Core Reckitt, particularly in Emerging Markets;
A return to growth in Europe after a tough 2024; and
Progress on the planned sale of the Essential Home business to Advent International. ^[9]

Collectively, today’s target hike and recent upgrades underline a narrative shift: from repair and credibility rebuilding, to steady execution and capital returns.

New “Transaction in Own Shares” filing: buyback gathers pace

Before the market opened, Reckitt filed a fresh “Transaction in Own Shares” notice, confirming another day of activity under its ongoing share repurchase programme. ^[10]

According to the RNS:

On 25 November 2025, the company bought back 59,770 ordinary shares;
The trades were executed at a volume‑weighted average price of 5,854.93p, with prices ranging from 5,828p to 5,878p;
The shares were acquired from BNP Paribas under instructions issued on 25 September 2025, as part of Reckitt’s pre‑announced buyback arrangements;
The repurchased stock will be held in treasury, bringing total treasury shares to 58,764,481;
Following the transaction, Reckitt has 673,324,858 ordinary shares in issue and an equal number of voting rights outstanding. ^[11]

At the average price disclosed, the latest buyback instalment represents roughly £3.5 million of equity repurchased, and only around 0.01% of the share capital – a small but steady addition to a much larger capital return story.

How today’s purchase fits into the £1 billion buyback programme

Today’s RNS is one of a string of daily buyback disclosures through November, following the formal launch of the second tranche of Reckitt’s £1 billion share repurchase programme.

On 22 October 2025, the company confirmed that it had:

Completed a first £250 million tranche, buying about 4.45 million shares at an average price of £56.23, and cancelling those shares;
Started a second £250 million tranche on the same day, to run until 30 January 2026 at the latest, executed by BNP Paribas acting as riskless principal;
Indicated that shares bought in the second tranche will be held in treasury initially before being cancelled once the phase is complete;
Reiterated that the overall £1 billion programme announced in July 2025 is intended to reduce share capital, utilising authority granted by shareholders at the 8 May 2025 AGM. ^[12]

Daily purchases like today’s 59,770‑share block are therefore best seen as incremental steps in a longer capital return journey. For existing shareholders, the sustained buyback:

Tightens the share count over time, supporting earnings per share;
Sends a confidence signal about the balance sheet and cash generation; and
Provides downside support for the share price on weaker market days.

Sector backdrop: U.S. air fresheners market growth favours key players like Reckitt

Away from London dealing rooms, one of today’s industry headlines also has implications for Reckitt’s long‑term growth story.

A new United States air fresheners market report published this morning by Research and Markets forecasts that the U.S. market will expand from US$2.71 billion in 2024 to US$3.86 billion by 2033, implying a compound annual growth rate (CAGR) of about 4.0%. ^[13]

Crucially for Reckitt, the study lists Reckitt Benckiser Group plc among the key players in U.S. air fresheners, alongside other major consumer goods names. ^[14]

The report highlights:

Rising consumer focus on home ambience and hygiene,
Increased usage of air fresheners in cars and commercial environments, and
A shift towards smart, plug‑in and eco‑friendly fragrance formats.

For Reckitt, that growth supports the long‑term prospects for its Air Wick and broader home‑fragrance portfolio, complementing core hygiene brands like Lysol, Finish and Harpic. ^[15]

While today’s market reaction is driven primarily by the buyback and broker activity, the report underscores that category fundamentals in home care remain supportive over the coming decade.

Underlying fundamentals: Q3 performance and 2025 guidance

Today’s incremental news sits on top of a solid fundamental backdrop outlined in Reckitt’s Q3 2025 trading update in October:

Group like‑for‑like (LFL) net revenue grew 7.0% in Q3 to £3.61 billion;
Core Reckitt (Hygiene, Health and Nutrition combined) delivered 6.7% LFL growth, with volume growth of around 3.4% and the balance from price/mix;
Emerging Markets were the stand‑out performer, growing 15.5% LFL in the quarter, with China singled out as particularly strong;
Europe returned to growth, with Q3 LFL net revenue up 0.8%, while North America saw a 1.3% uplift. ^[16]

Management has maintained 2025 guidance, expecting:

Core Reckitt LFL net revenue growth of more than 4%;
Group LFL revenue growth of 3–4%; and
Another year of adjusted diluted EPS growth, helped by operational efficiencies through its “Fuel for Growth” programme. ^[17]

At the same time, Reckitt is progressing the sale of a majority stake in its Essential Home business to Advent International in a US$4.8 billion deal (including debt), with completion targeted by year‑end 2025. ^[18] The divestment will simplify the portfolio and further tilt the group toward higher‑growth, higher‑margin consumer health and hygiene categories.

What today’s developments mean for investors

For investors tracking Reckitt on 26 November 2025, today’s mosaic of updates paints a consistent picture:

The share price continues to trade firmly in the upper half of its 52‑week range, with intraday volatility largely driven by broader FTSE 100 moves rather than company‑specific shocks. ^[19]
JPMorgan’s target hike acknowledges the operational progress of 2025, but a neutral rating and only modest implied upside suggest the stock now prices in much of the near‑term good news. ^[20]
The buyback programme is doing exactly what management said it would: quietly shrinking the equity base day‑by‑day, while signalling confidence in cash generation and balance‑sheet strength. ^[21]
Structural trends – from emerging‑market health spending to steady growth in home and air‑care categories – continue to underpin the long‑term thesis. ^[22]

For now, today’s news flow is incremental rather than transformational. But taken together, it reinforces the idea that Reckitt in late 2025 is a company executing to plan, streamlining its portfolio, and returning significant capital to shareholders, even as the share price edges closer to broker target levels.

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Investors should conduct their own research or consult a qualified financial adviser before making investment decisions.