UK's Travis Perkins gains as RBC lifts PT
** Building materials supplier Travis Perkins' TPK.L shares up 2.6% at 896.50p
** Brokerage RBC raises PT to 1,150p from 950p
** TPK's business is well positioned for new CEO who will take over next month - brokerage
** In July, Travis Perkins named former Taylor Wimpey TW.L Chief Executive Pete Redfern as its new CEO, succeeding Nick Roberts
** TPK is market leader in merchanting business, which it should be able to leverage to take share over time - RBC
** "We see significant valuation upside over time as profits recover and the group demonstrates sustainable improvements in FCF and ROIC (return on invested capital)" - brokerage
** 8 of 17 brokerages rate stock "buy" or higher, 8 "hold" and 1 "sell" - LSEG
** As of last close, stock up more than 6% YTD
Reporting by Radhika Anilkumar in Bengaluru
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