Redstone has released a trading update stating it ‘expects to report EBITDA at the upper end of market expectations’. This implies EBITDA of £1.8m which is above our current estimate of £1.5m. Accordingly, we are upgrading our PBT forecast for the year ending January 2017 by 33% to £1.2m from £0.9m. We reiterate our buy recommendation with a 2.2p price target implying 69% upside.
09 Jan 2017
33% upgrade to January 2017 PBT
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33% upgrade to January 2017 PBT
Smartspace Software Plc (SMRT:LON) | 87.5 0.4 0.6% | Mkt Cap: 25.3m
- Published:
09 Jan 2017 -
Author:
Andy Smith -
Pages:
5
Redstone has released a trading update stating it ‘expects to report EBITDA at the upper end of market expectations’. This implies EBITDA of £1.8m which is above our current estimate of £1.5m. Accordingly, we are upgrading our PBT forecast for the year ending January 2017 by 33% to £1.2m from £0.9m. We reiterate our buy recommendation with a 2.2p price target implying 69% upside.