Xaar’s share price has fallen by 37% since mid September. This appears to reflect concerns about forecasts given a softer backdrop in China, its largest geographic end market for its largest application, ceramic tile printing. On our forecasts, the group is now trading on a c.35% discount to the sector EV/EBITDA multiple for 2017, which is at odds with its strong growth prospects. Prelims scheduled for 22nd March will provide a welcome update on progress. However in the meantime it should be not ....
09 Mar 2017
N+1 Singer - Xaar - Share price weakness at odds with strong prospects
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N+1 Singer - Xaar - Share price weakness at odds with strong prospects
Xaar’s share price has fallen by 37% since mid September. This appears to reflect concerns about forecasts given a softer backdrop in China, its largest geographic end market for its largest application, ceramic tile printing. On our forecasts, the group is now trading on a c.35% discount to the sector EV/EBITDA multiple for 2017, which is at odds with its strong growth prospects. Prelims scheduled for 22nd March will provide a welcome update on progress. However in the meantime it should be not ....