The group’s year-end trading update confirmed volatile trading continues; however, it was slightly better than previously indicated, and – coupled with on-going benefits from self-help initiatives – this will result in the group exceeding current market forecasts, with EPS therefore upgraded by 10%. This statement provides a sense of relief to the shares, which have reacted positively. We have increased our TP from 34p to 42p, but following today’s price rise we mainta

14 Apr 2016
Encouraging year-end trading update

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Encouraging year-end trading update
Renold plc (RNO:LON) | 28.2 0 0.0% | Mkt Cap: 63.5m
- Published:
14 Apr 2016 -
Author:
David Buxton -
Pages:
2 -
The group’s year-end trading update confirmed volatile trading continues; however, it was slightly better than previously indicated, and – coupled with on-going benefits from self-help initiatives – this will result in the group exceeding current market forecasts, with EPS therefore upgraded by 10%. This statement provides a sense of relief to the shares, which have reacted positively. We have increased our TP from 34p to 42p, but following today’s price rise we mainta