The group has announced a satisfactory trading update ahead of its AGM today, with trading in line with expectations. It has also announced it has acquired StingRay Optics for a total consideration of $20m, which enhances the group’s presence in the important US electro-optic defence sector. The acquisition is 6% EPS enhancing on otherwise unchanged underlying forecasts. We raise our TP from 1050p to 1230p and – due to its premium valuation – maintain our supportive Hold rat
22 Feb 2017
StingRay acquisition and trading update
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StingRay acquisition and trading update
Gooch & Housego PLC (GHH:LON) | 558 44.6 1.5% | Mkt Cap: 143.9m
- Published:
22 Feb 2017 -
Author:
David Buxton -
Pages:
5
The group has announced a satisfactory trading update ahead of its AGM today, with trading in line with expectations. It has also announced it has acquired StingRay Optics for a total consideration of $20m, which enhances the group’s presence in the important US electro-optic defence sector. The acquisition is 6% EPS enhancing on otherwise unchanged underlying forecasts. We raise our TP from 1050p to 1230p and – due to its premium valuation – maintain our supportive Hold rat