Hargreaves continues its impressive run of positive newsflow this morning, with further upgrades at its German JV, HRMS. This business has continued to capitalise on recent strength in commodity prices, whilst also delivering operational improvements to support a sustained uplift in margins. The EPS upgrades are, again, significant at 29%/37%/17% across the forecast period (FY22 to FY24). Hargreaves remains one of our Best Ideas for 2022 and we increase our TP from 620p to 690p (<10x FY22 P/E).
15 Mar 2022
Further improvement at HRMS – significant upgrades
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Further improvement at HRMS – significant upgrades
Hargreaves Services plc (HSP:LON) | 544 -43.5 (-1.4%) | Mkt Cap: 178.5m
- Published:
15 Mar 2022 -
Author:
James Tetley -
Pages:
3
Hargreaves continues its impressive run of positive newsflow this morning, with further upgrades at its German JV, HRMS. This business has continued to capitalise on recent strength in commodity prices, whilst also delivering operational improvements to support a sustained uplift in margins. The EPS upgrades are, again, significant at 29%/37%/17% across the forecast period (FY22 to FY24). Hargreaves remains one of our Best Ideas for 2022 and we increase our TP from 620p to 690p (<10x FY22 P/E).