22 Nov 2017
N+1 Singer - Hill & Smith Holdings - Solid; trading in line
We moved back to Buy in August after the price fell post in-line Interims, and stated that we prefer to look ahead to opportunities in FY18. We restate that view today; UK Roads projects underpin FY18 and FY19 and there is ongoing potential for accretive M&A. Any progress on a Trump infrastructure plan could also help sentiment but it should also be noted that currency has been moving unfavourably in recent months. Overall, our target price of 1435p is unchanged and we remain at Buy.
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N+1 Singer - Hill & Smith Holdings - Solid; trading in line
Hill & Smith PLC (HILS:LON) | 1,857 -408.5 (-1.2%) | Mkt Cap: 1,492m
- Published:
22 Nov 2017 -
Author:
Jon Lienard -
Pages:
3
We moved back to Buy in August after the price fell post in-line Interims, and stated that we prefer to look ahead to opportunities in FY18. We restate that view today; UK Roads projects underpin FY18 and FY19 and there is ongoing potential for accretive M&A. Any progress on a Trump infrastructure plan could also help sentiment but it should also be noted that currency has been moving unfavourably in recent months. Overall, our target price of 1435p is unchanged and we remain at Buy.