We reiterate our Buy rating on Crimson Tide in the wake of a contract renewal and expansion of scope with a major UK supermarket. We believe this has substantially de-risked the group’s prospects into the second half of the year given the material weighting and underpins our forecasts for FY19E. Crimson Tide’s share price is down c.6% YTD and the group now trades on 2.9x EV/sales. We see substantial upside potential to our target price of 4.4p and an opportunity emerging as the gr
01 Oct 2019
Significant contract renewal with major UK retailer
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Significant contract renewal with major UK retailer
Crimson Tide Plc (TIDE:LON) | 160 0 0.0% | Mkt Cap: 10.5m
- Published:
01 Oct 2019 -
Author:
Kartik Swaminathan -
Pages:
5
We reiterate our Buy rating on Crimson Tide in the wake of a contract renewal and expansion of scope with a major UK supermarket. We believe this has substantially de-risked the group’s prospects into the second half of the year given the material weighting and underpins our forecasts for FY19E. Crimson Tide’s share price is down c.6% YTD and the group now trades on 2.9x EV/sales. We see substantial upside potential to our target price of 4.4p and an opportunity emerging as the gr