We believe Crimson Tide’s commercial momentum is accelerating. In the wake of the profit beat at its FY trading update, this morning’s announcement of new rail sector contracts add to our confidence in the group’s performance entering 2019. The shares now trade on 3.3x FY19E EV/sales. In our view, the group’s robust mid-term growth prospects and low churn/high visibility business model justifies a further rerating. We reiterate our Buy rating.
07 Feb 2019
New contracts break into Rail & Transport
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New contracts break into Rail & Transport
Crimson Tide Plc (TIDE:LON) | 160 0 0.0% | Mkt Cap: 10.5m
- Published:
07 Feb 2019 -
Author:
Kartik Swaminathan -
Pages:
5
We believe Crimson Tide’s commercial momentum is accelerating. In the wake of the profit beat at its FY trading update, this morning’s announcement of new rail sector contracts add to our confidence in the group’s performance entering 2019. The shares now trade on 3.3x FY19E EV/sales. In our view, the group’s robust mid-term growth prospects and low churn/high visibility business model justifies a further rerating. We reiterate our Buy rating.