Ferguson continues to ride the robust growth momentum in its US business, gaining additional support from the Canadian and Central European operations, which was partially offset by the sluggish performance in the UK. Moving forward, we expect the US to gain further strength, whereas Canada and Central Europe should stick to its supporting role and the UK remain as the pain point. We have tweaked our estimates slightly upward. No change in the stock recommendation.
22 Jun 2018
Q3 results benefited from strong momentum in the US
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Q3 results benefited from strong momentum in the US
Ferguson Plc (FERG:LON) | 16,950 -28815 (-1.0%) | Mkt Cap: 34,377m
- Published:
22 Jun 2018 -
Author:
Ankush Kathuria -
Pages:
3
Ferguson continues to ride the robust growth momentum in its US business, gaining additional support from the Canadian and Central European operations, which was partially offset by the sluggish performance in the UK. Moving forward, we expect the US to gain further strength, whereas Canada and Central Europe should stick to its supporting role and the UK remain as the pain point. We have tweaked our estimates slightly upward. No change in the stock recommendation.