Apr 18 2024
Recent Research
easyJet, Peak summer looking strong
Apr 18 2024
Entain, Core ENT in line, but BetMGM weak
Apr 17 2024
Oxford Instruments, FYMar24 in line
Apr 16 2024
Stelrad Group plc
Mexborough site visit – key takeaways
Our visit to Stelrad’s Mexborough factory showcased the group’s highly efficient manufacturing capability and well-resourced warehousing unit. These two features enable the group to...
Glenveagh Properties
Another good year likely in 2024; increasing price target to 198c
We see both re-rating potential and earnings upside in Glenveagh Properties in the coming 12 months. The stock is our top pick in the homebuilding sector, and our price target of 198c...
XP Power
Sentiment at rock bottom
XP Power (XPP) has set a very cautious tone for 2024, which we believe is sensible given recent disappointments. Guidance from the new CFO for revenue declines and financial leverage...
Greencore Group
Upside on the horizon
Following an extended phase of volatility, management at Greencore implemented a series of strategic commercial and operational initiatives focused on stabilising profits, recovering...
Uniphar
Focus on the target
We believe that the headwinds that held back Uniphar’s stock in 2022-2023 are now in the past. The outlook is far more positive. We estimate that achieving its medium-term EBITDA...
Xaar
Stronger platform for growth
Xaar has delivered FY23 profits ahead of our expectations. While customer-delayed launches of new printing machines impacted the FY23 out-turn, most now look set for launch in 2024...
Grafton Group
Ready to jump on the platform
An increasing possibility that Grafton will undertake a platform acquisition (£100-500m) this year merits an analysis of the possible effect of such a transaction. Applying Grafton’s...
Flutter Entertainment
FY23 – GAAP and guide key
Flutter Entertainment will report its FY23 preliminary results on Tuesday March 26th at 07.00 GMT with a conference call at 10.30. This will be its first update under US GAAP. Given that...
Hill & Smith
Consistent delivery
Hill & Smith (HILS) remains one of our top picks for 2024. The tailwinds of US infrastructure investment, self-help from organic investment in its existing higher growth/higher margin...
Associated British Foods
Investigating Primark USA
While we remain optimistic on the trajectory of Primark’s growth and profitability, we note that its US expansion remains a source of debate among the investment community. Our...
