Interim results show the recovery in trading continues, driven by strong levels of activity in the key US non-residential construction market. Management flags an upgrade to guidance, which follows on from the recent upgrade in July, illustrating the strong momentum being seen. This results in a FY EPS upgrade of 21% and a dividend upgrade of 48%. We also raise FY22 expectations by 18%. The shares look cheap at current levels, and we raise our PT by 18% to 700p, with strong momentum, a clear gro ....
08 Sep 2021
Somero Enterprises - Interim results – strong US market prompts upgrade
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Somero Enterprises - Interim results – strong US market prompts upgrade
Somero Enterprises, Inc. (SOM:LON) | 335 6.7 0.6% | Mkt Cap: 184.8m
- Published:
08 Sep 2021 -
Author:
David Buxton -
Pages:
7
Interim results show the recovery in trading continues, driven by strong levels of activity in the key US non-residential construction market. Management flags an upgrade to guidance, which follows on from the recent upgrade in July, illustrating the strong momentum being seen. This results in a FY EPS upgrade of 21% and a dividend upgrade of 48%. We also raise FY22 expectations by 18%. The shares look cheap at current levels, and we raise our PT by 18% to 700p, with strong momentum, a clear gro ....