Beldray’s strong performance and better than expected online and supermarket sales were the salient features of UPGS’s latest unscheduled trading statement. With continuing momentum in the order book and increasing resilience due to balanced distribution across its trading channels, we upgrade our full year FY2021 forecasts and argue that, at the current price of 98p, the shares would have to rise a full 50% to reach our 150p fair value.
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Beldray leads the way
Ultimate Products PLC (ULTP:LON) | 166 4.6 1.7% | Mkt Cap: 148.0m
- Published:
14 Dec 2020 -
Author:
Hannah Crowe | Chris Wickham -
Pages:
8
Beldray’s strong performance and better than expected online and supermarket sales were the salient features of UPGS’s latest unscheduled trading statement. With continuing momentum in the order book and increasing resilience due to balanced distribution across its trading channels, we upgrade our full year FY2021 forecasts and argue that, at the current price of 98p, the shares would have to rise a full 50% to reach our 150p fair value.