We initiate on Real Good Food (RGD) with a 55p price target (26% upside to the current price), valuing the equity in line with peers on 14.8x FY 2017 (March) EPS (3.7p). While RGD is smaller and lacks the liquidity of its peers, its forecast earnings trajectory over the next two years is far superior.
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A sweeter outlook
- Published:
02 Mar 2016 -
Author:
Cavendish Research -
Pages:
36
We initiate on Real Good Food (RGD) with a 55p price target (26% upside to the current price), valuing the equity in line with peers on 14.8x FY 2017 (March) EPS (3.7p). While RGD is smaller and lacks the liquidity of its peers, its forecast earnings trajectory over the next two years is far superior.