3i Group Shares Slip After RBC Lowers Rating Over Action Valuation
3i Group PLC shares fell 3.7% on Monday after RBC Capital Markets downgraded the stock to Underperform from Sector Perform and cut its price target to £30 from £32.50. The bank flagged that Action - 3i's largest investment in the discount retail space - is trading at about 28 times calendar year 2026 expected earnings, which RBC views as rich relat…