We initiated on Gemfields ahead of their FY 2015 results last month with a hold recommendation – this was based on our view on market timing on the luxury goods/gemstones market rather than the investment case for Gemfields. The share price has retraced by around 25% and is now moving to a more attractive buying level although catalysts for a re-rating are still lacking in the short term as the company enters a more flatter revenue profile for the next two years. Growth beyond from FY 2
05 Nov 2015
Getting back to better buying levels
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Getting back to better buying levels
Gemfields Group Limited (GEM:LON) | 12.0 0 0.0% | Mkt Cap: 140.0m
- Published:
05 Nov 2015 -
Author:
John Meyer | Sergey Raevskiy | Simon Beardsmore -
Pages:
9
We initiated on Gemfields ahead of their FY 2015 results last month with a hold recommendation – this was based on our view on market timing on the luxury goods/gemstones market rather than the investment case for Gemfields. The share price has retraced by around 25% and is now moving to a more attractive buying level although catalysts for a re-rating are still lacking in the short term as the company enters a more flatter revenue profile for the next two years. Growth beyond from FY 2