Recent FY results were in line with expectations, having been largely pre-announced previously, with 2H trading notably stronger than 1H trading after a pick up in order intake. Some markets are now starting to see firmer conditions, although price increases and other mixed markets still provide challenges. We raise our 2018 EPS forecasts by 1.5% and introduce new 2019 estimates, on the back of which we also lift our price target from 44p to 65p, following some weakness in the share price, th
01 Jun 2017
Some recovery seen in recent results
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Some recovery seen in recent results
Renold plc (RNO:LON) | 45.6 -0.1 (-0.4%) | Mkt Cap: 102.7m
- Published:
01 Jun 2017 -
Author:
David Buxton -
Pages:
8
Recent FY results were in line with expectations, having been largely pre-announced previously, with 2H trading notably stronger than 1H trading after a pick up in order intake. Some markets are now starting to see firmer conditions, although price increases and other mixed markets still provide challenges. We raise our 2018 EPS forecasts by 1.5% and introduce new 2019 estimates, on the back of which we also lift our price target from 44p to 65p, following some weakness in the share price, th