Since late May, when I put out my latest Target Price of 177p on this group’s shares, the highest that they have touched was 163p.
They are now 151p
Has my opinion about the shares changed?
Not in one iota!
I consider that, if you believe that the Government is trying to build up its infrastructure, then Kier Group is an excellent way to participate in that onward drive.
It already has a monster of an Order Book of some £10.9bn, giving it multi-year visibility of revenue generation.
Analysts Joe Brent and Alex O’Hanlon, at Panmure Liberum, rate the group’s shares as a Buy, looking for 250p.
Last Thursday’s AGM Update clearly stated that the group was trading in line with expectations.
CEO Andrew Davies stated that:
The shares, now at 151p, are excellent value and worthy of the majority of investor portfolios.
My Target Price stands firm.
(Profile 24.04.22 @ 71p set a Target Price of 90p*)
(Profile 20.05.24 @ 146.8p set a Target Price of 177p)
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