Cranswick has taken the next step to bolster its position in the poultry sector by acquiring Crown. Strategically this is a good move and reflects a strong historical track record of diversifying the business and driving accretive growth. We expect the transaction to be very usefully 6% EPS accretive in both FY17 and FY18 and this influences us to upgrade from Hold to Buy with a 2400p (2050p) new 12m TP.
11 Apr 2016
Poultry acquisition – nicely accretive
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Poultry acquisition – nicely accretive
Cranswick plc (CWK:LON) | 4,100 1640 1.0% | Mkt Cap: 2,215m
- Published:
11 Apr 2016 -
Author:
Sahill Shan -
Pages:
3
Cranswick has taken the next step to bolster its position in the poultry sector by acquiring Crown. Strategically this is a good move and reflects a strong historical track record of diversifying the business and driving accretive growth. We expect the transaction to be very usefully 6% EPS accretive in both FY17 and FY18 and this influences us to upgrade from Hold to Buy with a 2400p (2050p) new 12m TP.