Whilst recent trading has been underwhelming and the market outlook remains challenging, we think the recent share price weakness in EMIS is now looking overdone. We take a detailed look at the market and EMIS’ position and conclude material downside to earnings is unlikely whilst the chances of M&A are increasing. The valuation is at historic lows and looks attractive on both a relative and absolute basis. We upgrade to Buy with a short term Target Price of 936p (from 900p) but see scope for hi ....
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N+1 Singer - EMIS Group - Shares oversold, fundamentals intact
- Published:
08 Nov 2016 -
Author:
Chris Glasper -
Pages:
14
Whilst recent trading has been underwhelming and the market outlook remains challenging, we think the recent share price weakness in EMIS is now looking overdone. We take a detailed look at the market and EMIS’ position and conclude material downside to earnings is unlikely whilst the chances of M&A are increasing. The valuation is at historic lows and looks attractive on both a relative and absolute basis. We upgrade to Buy with a short term Target Price of 936p (from 900p) but see scope for hi ....