After this morning’s Interim Results announcement analyst Andy Hanson at Zeus Capital has increased his current-year earnings estimate to 10.6p against 10.4p previously, while lifting next year’s to 11.3p from 11.1p per share.
He notes that despite acting in the best interest of shareholders through consistent delivery of profitability, dividends and more recently a buyback programme, whilst maintaining a conservative balance sheet, the shares remain undervalued.
Over at Shore Capital, analysts Tom Fraine and Robin Speakman continue to believe the shares are attractively valued at 4.2x FY24F EBITDA forecast, especially in the context of the company not having missed a beat following the reintroduction of profit guidance post the Covid-19 pandemic.
The group’s shares, which are down 2p this morning at 97p, could well rise over the 100p level again fairly soon, heading for 110p/115p.
(Profile 22.08.19 @ 73.5p set a Target Price of 100p*)
(Profile 10.02.23 @ 75p set a Target Price of 94p*)
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