The FTCs decision to challenge Synergy’s merger with Steris has precipitated a sharp fall in the share price to a level we think looks compelling whether Synergy remains independent or not. If the merger completes, then a quick 20%+ return is possible. If not, then we expect Synergy to be more explicit in its growth ambitions, which in turn should lead to forecast upgrades. We therefore move the stock back onto the Buy list.
17 Jun 2015
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JD Sports Fashion Plc (JD:LON) | 120 -4.5 (-3.1%) | Mkt Cap: 6,213m
- Published:
17 Jun 2015 -
Author:
Matthew McEachran -
Pages:
13
The FTCs decision to challenge Synergy’s merger with Steris has precipitated a sharp fall in the share price to a level we think looks compelling whether Synergy remains independent or not. If the merger completes, then a quick 20%+ return is possible. If not, then we expect Synergy to be more explicit in its growth ambitions, which in turn should lead to forecast upgrades. We therefore move the stock back onto the Buy list.