Considering the detailed commentary of the ongoing productions issues at Dialight, we are significantly reducing our estimate for 2018 (27% off PBT, 13% of EPS in view of US tax reform). In anticipation (or hope?) of near-complete recovery we have held our lower-end 2019 PBT estimate, with a significant EPS upgrade, again on US tax. In view of continuing risks we have reduced our TP from 630p to 560p based on a 10% discount to sub-sector 2019 EV/EBITDA. While we continue to rate the company’s pr ....
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27 Feb 2018
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Dialight plc (DIA:LON) | 159 0 0.0% | Mkt Cap: 63.6m
- Published:
27 Feb 2018 -
Author:
Trevor Griffiths -
Pages:
3 -
Considering the detailed commentary of the ongoing productions issues at Dialight, we are significantly reducing our estimate for 2018 (27% off PBT, 13% of EPS in view of US tax reform). In anticipation (or hope?) of near-complete recovery we have held our lower-end 2019 PBT estimate, with a significant EPS upgrade, again on US tax. In view of continuing risks we have reduced our TP from 630p to 560p based on a 10% discount to sub-sector 2019 EV/EBITDA. While we continue to rate the company’s pr ....