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Davy Research

DCC

Q3 2019 IMS – ‘Defensive growth’

Feb 5 2019, 07:10 GMT
Allan Smylie CFA
Andrew Young CFA
Company Report
5 page(s)

Sectors : Business Support Services

Companies : DCC

Ratings and price correct at time of issue.

DCC

Closing Price: 6400p
RATING 30/06/09
OUTPERFORM
PREVIOUS RATING N/A

Person's Name

Allan Smylie CFA

Analyst

Person's Name

Andrew Young CFA

Analyst

DAVY VIEW

DCC has delivered a positive trading update for its third quarter, with each of the four divisions performing well and management comfortable with FY 2019 consensus expectations. With a recently strengthened balance sheet and management’s ambition to build global leadership positons across the group, this remains an exciting juncture for the DCC investment thesis. Our price target of £88 points to c.40% upside.

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Feb 5 2019, 07:10 GMT