JLT’s H1 2017 results were slightly ahead of our expectations and left us believing the group has turned the corner in terms of clean results/delivery on expectations. We raise our TP to 1,340p from 1,110p. The valuation is stretched near term, but the upside potential from US Speciality is getting closer (from 2019) and the EB move into China is exciting. With JLT providing more guidance at the FY17, we advise investors to start build a stake now, given the more limited free float (55.
01 Aug 2017
Focusing on the medium term story
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Focusing on the medium term story
Jardine Lloyd Thompson Group (JLT:LON) | 0 0 0.6% | Mkt Cap: 2,861m
- Published:
01 Aug 2017 -
Author:
Robert Sanders -
Pages:
5
JLT’s H1 2017 results were slightly ahead of our expectations and left us believing the group has turned the corner in terms of clean results/delivery on expectations. We raise our TP to 1,340p from 1,110p. The valuation is stretched near term, but the upside potential from US Speciality is getting closer (from 2019) and the EB move into China is exciting. With JLT providing more guidance at the FY17, we advise investors to start build a stake now, given the more limited free float (55.