Kier’s final results on 17 September, the first since the Mouchel acquisition completed in June, are likely to paint a confident outlook, including in roads, where the enlarged group has an expanded presence and the government has been stepping up investment. Our new estimates, reflecting the acquisition and rights issue, imply compound earnings growth of 13% over the next three years. Our new price target of 1,763p represents 17% potential upside and we restate our Buy recommendation.<
15 Sep 2015
Headlining the UK roads show
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Headlining the UK roads show
Kier Group plc (KIE:LON) | 125 -3.2 (-2.0%) | Mkt Cap: 557.2m
- Published:
15 Sep 2015 -
Author:
Alastair Stewart -
Pages:
28
Kier’s final results on 17 September, the first since the Mouchel acquisition completed in June, are likely to paint a confident outlook, including in roads, where the enlarged group has an expanded presence and the government has been stepping up investment. Our new estimates, reflecting the acquisition and rights issue, imply compound earnings growth of 13% over the next three years. Our new price target of 1,763p represents 17% potential upside and we restate our Buy recommendation.<