We downgrade Trakm8 to Neutral from Buy following large EPS downgrades post weaker than expected results and a lack of visibility on the speed of the group returning to prior form. While we acknowledge the shares present deep value with substantial long term opportunity given recent share price weakness for longer term investors, a pause in Fleet market activity and a lack of acceleration in Automotive volumes limit potential for a re-rating on a 12 month horizon, in our view. Our PT is cut t
16 Nov 2018
Downgrading to Neutral on limited visibility
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Downgrading to Neutral on limited visibility
Trakm8 Holdings PLC (TRAK:LON) | 9.2 0 0.0% | Mkt Cap: 4.62m
- Published:
16 Nov 2018 -
Author:
Kartik Swaminathan -
Pages:
3
We downgrade Trakm8 to Neutral from Buy following large EPS downgrades post weaker than expected results and a lack of visibility on the speed of the group returning to prior form. While we acknowledge the shares present deep value with substantial long term opportunity given recent share price weakness for longer term investors, a pause in Fleet market activity and a lack of acceleration in Automotive volumes limit potential for a re-rating on a 12 month horizon, in our view. Our PT is cut t