he stock has enjoyed a sharp bounce back since the COVID-19 lows in March 2020, reflecting successive upgrades backed up by the strength of its cash generation. Whilst 13x 21E PE remains at the upper end of its recent valuation range, the positive outlook for US non-residential construction, structural growth trends behind new products and the potential for a significant cash return over the next three years (we estimate the group can return c.20% of its market cap) means we remain positive. We ....
03 Aug 2021
Somero Enterprises - Fill your concrete boots
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Somero Enterprises - Fill your concrete boots
Somero Enterprises, Inc. (SOM:LON) | 340 0 0.0% | Mkt Cap: 188.4m
- Published:
03 Aug 2021 -
Author:
Manjot Heer | Andrew Gibb -
Pages:
19
he stock has enjoyed a sharp bounce back since the COVID-19 lows in March 2020, reflecting successive upgrades backed up by the strength of its cash generation. Whilst 13x 21E PE remains at the upper end of its recent valuation range, the positive outlook for US non-residential construction, structural growth trends behind new products and the potential for a significant cash return over the next three years (we estimate the group can return c.20% of its market cap) means we remain positive. We ....