We have increased our DCF-derived target price to 870p (from 800p) on the back of strong FY2016 results which suggest the capital investment in Technical Fibre Products (TFP) is paying off as sales and profits rose strongly. While we have maintained our group adj. PBT forecasts for FY2017E and FY2018E we have increased our medium-term cash flow projections to reflect the capex investment. With our forecasts not factoring in any sales potential for 3DP our increased target price could still pr
28 Jun 2016
Further capex on back of strong results
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Further capex on back of strong results
James Cropper plc (CRPR:LON) | 260 13 2.0% | Mkt Cap: 24.8m
- Published:
28 Jun 2016 -
Author:
Robert Sanders -
Pages:
8
We have increased our DCF-derived target price to 870p (from 800p) on the back of strong FY2016 results which suggest the capital investment in Technical Fibre Products (TFP) is paying off as sales and profits rose strongly. While we have maintained our group adj. PBT forecasts for FY2017E and FY2018E we have increased our medium-term cash flow projections to reflect the capex investment. With our forecasts not factoring in any sales potential for 3DP our increased target price could still pr