We are encouraged by the progress being made in implementing UBM’s “Events First” strategy which we expect to improve revenue visibility, drive cash generation and enhance organic growth potential. We have made minor adjustments to our forecasts following UBM’s interims (FY2015E EPS -2%) and trimmed our target price from 622p to 601p to reflect these changes and a more cautious view on Chinese exposure. That said, we see good scope for share price upside following rece
19 Aug 2015
Solid progress
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Solid progress
UBM Development AG (UBS:WBO) | 0 0 2.1% | Mkt Cap: 297.4m
- Published:
19 Aug 2015 -
Author:
Roddy Davidson -
Pages:
5
We are encouraged by the progress being made in implementing UBM’s “Events First” strategy which we expect to improve revenue visibility, drive cash generation and enhance organic growth potential. We have made minor adjustments to our forecasts following UBM’s interims (FY2015E EPS -2%) and trimmed our target price from 622p to 601p to reflect these changes and a more cautious view on Chinese exposure. That said, we see good scope for share price upside following rece