NAV per share increased by +15.3% (our forecast +3%) to 480p in FY 2018 and EBITDA increased by +12.3% (in line with our forecast) as both the existing and new stores traded well. The secured pipeline will add 32% to available space and with the UK market still undersupplied, the outlook for value creation from both the existing stores and potential new ones remains very strong. We have raised our NAV-based target price to 609p from 521p, factoring in the latest valuation and rolling forward
29 Oct 2018
Lok'nStore - NAV ahead of forecasts, growth potential remains strong
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Lok'nStore - NAV ahead of forecasts, growth potential remains strong
Lok'nStore Group plc (LOK:LON) | 1,108 -55.4 (-0.5%) | Mkt Cap: 364.3m
- Published:
29 Oct 2018 -
Author:
Guy Hewett -
Pages:
12
NAV per share increased by +15.3% (our forecast +3%) to 480p in FY 2018 and EBITDA increased by +12.3% (in line with our forecast) as both the existing and new stores traded well. The secured pipeline will add 32% to available space and with the UK market still undersupplied, the outlook for value creation from both the existing stores and potential new ones remains very strong. We have raised our NAV-based target price to 609p from 521p, factoring in the latest valuation and rolling forward