While Ferguson sustained the strong top-line growth momentum in H1, management expects a moderation in H2, due to challenging market conditions, especially in the US – the key reason behind yesterday’s downfall in the share price, in our view. Even Canada and the UK are expected to remain soft in the near term. We will revise our estimates downwards. Our stock recommendation might change to ‘Reduce’.
27 Mar 2019
End of high-growth period for Ferguson?
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End of high-growth period for Ferguson?
Ferguson Plc (FERG:LON) | 16,950 -28815 (-1.0%) | Mkt Cap: 34,377m
- Published:
27 Mar 2019 -
Author:
Mohit Rathi -
Pages:
3
While Ferguson sustained the strong top-line growth momentum in H1, management expects a moderation in H2, due to challenging market conditions, especially in the US – the key reason behind yesterday’s downfall in the share price, in our view. Even Canada and the UK are expected to remain soft in the near term. We will revise our estimates downwards. Our stock recommendation might change to ‘Reduce’.