The share price has drifted in the last two months and is now at the lowest relative valuation it has been since December 2014, at 13.5x FY19 P/E. We believe that, whilst forecast growth has fallen from the previous highs of FY16 and FY17, there is still room for the Group to generate growth that warrants a higher rating. FY18 results are set to be released in September and we feel these will present a positive catalyst, given our view that the results will drive upside to consensus forecasts
24 Aug 2018
Not just a steady Redde
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Not just a steady Redde
Redde Northgate PLC (21W:FRA) | 0 0 0.0% | Mkt Cap: 498.3m
- Published:
24 Aug 2018 -
Author:
Ben Thefaut -
Pages:
40
The share price has drifted in the last two months and is now at the lowest relative valuation it has been since December 2014, at 13.5x FY19 P/E. We believe that, whilst forecast growth has fallen from the previous highs of FY16 and FY17, there is still room for the Group to generate growth that warrants a higher rating. FY18 results are set to be released in September and we feel these will present a positive catalyst, given our view that the results will drive upside to consensus forecasts