We believe Bank of America’s SME platform launch may galvanise Maestrano’s own US banking client (Client A) to re-accelerate its planned roll-out. While uncertainty may persist until Maestrano sees evidence of faster client exposure from Client A, we believe risk is shifting in the group’s favour. The shares trade on an undemanding valuation of 0.1x FY19E EV/sales (mkt cap is now equivalent to H1’19A cash position), in our view. We reiterate our Buy rating.
08 Feb 2019
Bank of America launches new SME business dashboard
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Bank of America launches new SME business dashboard
Cordel Group PLC (CRDL:LON) | 4.1 0 7.9% | Mkt Cap: 8.18m
- Published:
08 Feb 2019 -
Author:
Kartik Swaminathan -
Pages:
2
We believe Bank of America’s SME platform launch may galvanise Maestrano’s own US banking client (Client A) to re-accelerate its planned roll-out. While uncertainty may persist until Maestrano sees evidence of faster client exposure from Client A, we believe risk is shifting in the group’s favour. The shares trade on an undemanding valuation of 0.1x FY19E EV/sales (mkt cap is now equivalent to H1’19A cash position), in our view. We reiterate our Buy rating.