Pre content


Content bottom
Switch off smileys
List  Previous  Next  View thread
Respond     Vote up     Email to a friend     Neighbourhood Watch
Author nk1999     View Profile     Add to favourites     Ignore
Date posted 2016-08-30 20:16
Subject JP Morgan Cazenove 
Votes for this Posting Voted UP 2 times.

"Smiths Group's shares gained on Tuesday as JP Morgan Cazenove reiterated an 'overweight' rating and lifted the price target to 1,585p from 1,300p.
JP Morgan said the technology company's 2016 financial year ended on a "very positive note", with the trading update on 9 August indicating that full year operating profit was well ahead of consensus expectations of £473m, although below the 2015 level of £511m.

"The full-year (July year-end) results on 28 September are to be accompanied by the presentation of the new management team's strategic vision for the group and we expect this, together with good results for 2016, to provide a further stimulus for the shares to continue to outperform the sector," JP Morgan said.

"With 18% upside to our price target and the prospect of the positive news flow continuing, we are reiterating our 'overweight' recommendation."

JP Morgan raised its 2016 revenue and earnings per share forecast by 2% to £2.93bn and 81.7p respectively, given the movement in exchange rates.

The broker said Smiths is trading at a "substantial discount" to the sector in terms of price-earnings ratio and enterprise value/ earnings before interest, tax and amortisation multiples "despite the prospect of delivering an operating profit margin more than 400bps above the average for our universe"."

Respond     Vote up     Email to a friend     Neighbourhood Watch
Switch off smileys
List  Previous  Next  View thread
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited. You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong. Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.

The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements. Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in. Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.

Discussion Board Terms & Conditions FCA'S FSA Market Abuse Fact Sheet

Bottom Leader Board Area