WIL’s full year results should provide a useful opportunity to check in on a range of growth / valuation drivers and the core elements of our positive investment case. The latter centres on our contention that it is well positioned to generate organic growth and make accretive acquisitions in the large and fast-growing GRC space resulting in strong EPS growth, a useful DPS progression and robust cash generation. From a valuation perspective our 463p target price suggests a 12-month TSR of 36% and good scope for a share price re-rating. BUY.
