The agreed offer for Biffa will leave Renewi as the sole waste/recycling company listed on the UK market. The rating on Renewi shares is undemanding (FY23 P/E 7.2x) and a significant discount to the Biffa deal (FY23 P/E 18.1x). Add to this the reassuring trading update and the shares clearly offer two routes for capital appreciation.
03 Oct 2022
Renewi - Trading in line, no change to guidance
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Renewi - Trading in line, no change to guidance
Renewi Plc (RWI:LON) | 585 210.6 6.5% | Mkt Cap: 471.2m
- Published:
03 Oct 2022 -
Author:
David Larkam -
Pages:
2
The agreed offer for Biffa will leave Renewi as the sole waste/recycling company listed on the UK market. The rating on Renewi shares is undemanding (FY23 P/E 7.2x) and a significant discount to the Biffa deal (FY23 P/E 18.1x). Add to this the reassuring trading update and the shares clearly offer two routes for capital appreciation.