Shearwater is on track to meet our FY19E estimates. The acquisition of Brookcourt completed post the balance sheet date and so does not feature in the interim results. The integration is going well and underlying cash generation is positive. The recent sell-off in the shares leaves the stock trading at a 15% discount to the recent Placing price. Buy.
11 Dec 2018
Cenkos: Shearwater Group Plc - Strong organic growth
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Cenkos: Shearwater Group Plc - Strong organic growth
Shearwater Group plc (SWG:LON) | 47.5 0 0.0% | Mkt Cap: 11.3m
- Published:
11 Dec 2018 -
Author:
Cavendish Research -
Pages:
5
Shearwater is on track to meet our FY19E estimates. The acquisition of Brookcourt completed post the balance sheet date and so does not feature in the interim results. The integration is going well and underlying cash generation is positive. The recent sell-off in the shares leaves the stock trading at a 15% discount to the recent Placing price. Buy.