The group recently announced an encouraging trading update, with FY results now expected to be slightly above previous expectations, based on solid underlying trading and boosted by ongoing FX tailwinds. As such, we are modestly increasing our forecasts, with an 8.8% increase in EPS for the current year and 9.3% for 2018. This places the shares on a P/E of 16.9x in 2018. We raise our price target from 176p to 215p and, with modest upside from current levels, we maintain our Buy rating.
23 Feb 2017
Encouraging trading update, boosted by FX
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Encouraging trading update, boosted by FX
Trifast plc (TRI:LON) | 77.0 1.4 2.4% | Mkt Cap: 104.8m
- Published:
23 Feb 2017 -
Author:
David Buxton -
Pages:
4
The group recently announced an encouraging trading update, with FY results now expected to be slightly above previous expectations, based on solid underlying trading and boosted by ongoing FX tailwinds. As such, we are modestly increasing our forecasts, with an 8.8% increase in EPS for the current year and 9.3% for 2018. This places the shares on a P/E of 16.9x in 2018. We raise our price target from 176p to 215p and, with modest upside from current levels, we maintain our Buy rating.