Lookers has performed resiliently and flexibly in Q1 2021. The national lockdown has not caused new and used volumes to drop as much as expected, leading to an improvement in our full year forecasts. We are starting to see the benefits of Lookers’ investment in technology and its process improvements. On a FY22E PE of 7.3x, the shares still present good value to investors. We reiterate our previous blue-sky scenario analysis which can justify a price target of over 100p and we see long-term upsi ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Lookers Plc (LOOK LN) - Upgrade to forecasts
- Published:
09 Apr 2021 -
Author:
Rachel Birkett, CFA -
Pages:
8
Lookers has performed resiliently and flexibly in Q1 2021. The national lockdown has not caused new and used volumes to drop as much as expected, leading to an improvement in our full year forecasts. We are starting to see the benefits of Lookers’ investment in technology and its process improvements. On a FY22E PE of 7.3x, the shares still present good value to investors. We reiterate our previous blue-sky scenario analysis which can justify a price target of over 100p and we see long-term upsi ....