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Companies >
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UDG Healthcare Plc >
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N+1 Singer - UDG Healthcare - Acquisition-led upgrade momentum building

  • 15 Aug 2017

N+1 Singer - UDG Healthcare - Acquisition-led upgrade momentum building


UDG Healthcare Plc (UDG:LON) | 838 0 0.0% | Mkt Cap: 2,110m


  • N+1 Singer
    • Chris Glasper

    • 5 pages

Medical Equipment & Services image


 
Medical Equipment & Services image


We have updated our forecasts for the two acquisitions completed in July and the recent trading update, upgrading EPS by 1-3%. We continue to be attracted to the long term story around UDG, with the track record of acquisitions having been exemplary so far. These attributes are no longer hidden under a bushel however and, with the shares trading on ~30x P/E, a 30%+ premium to its closest peers, UDG probably needs to grow into its valuation. We stay at Hold with a TP of 770p.

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N+1 Singer - UDG Healthcare - Acquisition-led upgrade momentum building


UDG Healthcare Plc (UDG:LON) | 838 0 0.0% | Mkt Cap: 2,110m


  • Published: 15 Aug 2017
  • Author: Chris Glasper
  • Pages: 5
  • N+1 Singer


We have updated our forecasts for the two acquisitions completed in July and the recent trading update, upgrading EPS by 1-3%. We continue to be attracted to the long term story around UDG, with the track record of acquisitions having been exemplary so far. These attributes are no longer hidden under a bushel however and, with the shares trading on ~30x P/E, a 30%+ premium to its closest peers, UDG probably needs to grow into its valuation. We stay at Hold with a TP of 770p.

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