We believe Crimson Tide’s implied beat at its FY trading update will be well received by the market in the context of a 37% share price decline over the past 12 months. The shares now trade on 2.6x 2019E EV/sales. In our view, this is undemanding given its robust mid-term growth prospects and low churn/high visibility business model. We reiterate our Buy rating.
29 Jan 2019
Upbeat FY18 trading update
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Upbeat FY18 trading update
Crimson Tide Plc (TIDE:LON) | 160 0 0.0% | Mkt Cap: 10.5m
- Published:
29 Jan 2019 -
Author:
Kartik Swaminathan -
Pages:
5
We believe Crimson Tide’s implied beat at its FY trading update will be well received by the market in the context of a 37% share price decline over the past 12 months. The shares now trade on 2.6x 2019E EV/sales. In our view, this is undemanding given its robust mid-term growth prospects and low churn/high visibility business model. We reiterate our Buy rating.