Instem delivered a solid in line performance in FY20 and entered FY21 with a strong orderbook and backlog. The acquisitions announced last month have added materially to the scale and capabilities of the group and we believe the growth prospects and strategic value of the enlarged group have been enhanced significantly. Our forecasts are unchanged, save for introducing FY23 estimates. We look for a 3yr EPS CAGR of 22% and see potential upside on revenue synergies and further M&A. The valuation c ....
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Enlarged group with enhanced growth prospects
- Published:
12 Apr 2021 -
Author:
Chris Glasper -
Pages:
3
Instem delivered a solid in line performance in FY20 and entered FY21 with a strong orderbook and backlog. The acquisitions announced last month have added materially to the scale and capabilities of the group and we believe the growth prospects and strategic value of the enlarged group have been enhanced significantly. Our forecasts are unchanged, save for introducing FY23 estimates. We look for a 3yr EPS CAGR of 22% and see potential upside on revenue synergies and further M&A. The valuation c ....