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Jun 11 2024, 07:05 IST/BST
Genuit Group
A lot achieved but a lot more priced in
- Sectors : Building products
- Companies : Genuit Group
DAVY VIEW
Genuit deserves credit for improving its trading margin and maintaining profitability despite persistently unhelpful end-markets. The recent re-rating is merited as the benefits of the group’s refreshed strategy become increasingly apparent. That said, we believe the initial phase of an earnings recovery is now priced in even as this prospect increasingly looks to be pushed out to next year at the earliest. Our sense is that the stock for now is up with events, reflected in an updated price target of 456p.
