We have refreshed our model and retain our Buy rating post the group’s analyst briefing. Our three key takeaways are: (1) the order book is robust with good visibility; (2) competition is consolidating; and (3) longer-term outlook is improving. Management’s guidance implies that our estimates, which were ahead of consensus into the interim numbers, are too optimistic. Our revised expectations are now more closely aligned with consensus. Our PT is unchanged at 140p.
05 Nov 2019
Interim results analyst briefing wrap; cutting nos
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Interim results analyst briefing wrap; cutting nos
ZOO Digital Group plc (ZOO:LON) | 37.2 -0.2 (-1.3%) | Mkt Cap: 36.5m
- Published:
05 Nov 2019 -
Author:
Kartik Swaminathan -
Pages:
7
We have refreshed our model and retain our Buy rating post the group’s analyst briefing. Our three key takeaways are: (1) the order book is robust with good visibility; (2) competition is consolidating; and (3) longer-term outlook is improving. Management’s guidance implies that our estimates, which were ahead of consensus into the interim numbers, are too optimistic. Our revised expectations are now more closely aligned with consensus. Our PT is unchanged at 140p.