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Pfizer has said that it will leverage the scale of its global clinical, manufacturing and commercial infrastructure to accelerate Metsera’s portfolio.

But the roiling effects of the closure, as well as the data disruptions it brought on, are likely to make it hard to know just how big that bite was.

It could make a move if it was willing to stretch its balance sheet while maybe sacrificing shareholder returns, they say.

The U.K. telecommunication company showed a return to growth in its challenged German business, while operations in Africa continued to expand and the U.K. benefited from the early progress of the Three UK merger.

“Even with a potential rise in postal rates, we think it will be difficult for SingPost to generate the earnings needed to justify its current valuations,” he says.