• Mark Watson-Mitchell

Peel Hunt keen on Morgan Sindall after Trading Update

According to Peel Hunt, the construction and regeneration group Morgan Sindall (LON:MGNS) is recovering faster than expected and proving its quality,


PH analyst Andrew Nussey retained his ‘buy’ recommendation and target price of 1500p on the shares, which moved up 5% to 1223p after the group's positive trading update. It delivered a surprise dividend and earnings per share uplift.


There is now an expectation that pre-tax profits this year will come in at the top end of the previous £50-£60m guidance.


‘Morgan Sindall is recovering more quickly than we anticipated, but also in a controlled manner with strengthening visibility of margin and cash,’ said Nussey.


‘The quality is evident. The balance sheet is sector leading and we confidently retain our “buy” recommendation.’


Recent Posts

See All

Hollywood Bowl (BOWL) is too cheap considering the ten-pin bowling operator continues to outperform, says Berenberg. Analyst Owen Shirley retained his ‘buy’ recommendation and target price of 350p on

Ventilation group Volution (FAN) has delivered strong 2022 numbers and Berenberg believes this puts it on track to narrow the valuation gap with its European peers. Analyst Lushanthan Mahendrarajah re