Vertu has released an impressive set of FY results, which are ahead of our previously upgraded forecasts. Trading momentum remains strong with pent-up demand still evident, and with healthy cash generation and a strong balance sheet we believe Vertu is well positioned. This note focuses on the scaled business (#9 in Europe) that has been built up from nothing 15 years ago, and we increase our near term intrinsic value from 62.9p to 75.6p per share implying a healthy risk/reward profile from curr ....
12 May 2021
Vertu Motors PLC (VTU LN) - Built on strong foundations
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Vertu Motors PLC (VTU LN) - Built on strong foundations
Vertu Motors PLC (VTU:LON) | 67.8 0.5 1.0% | Mkt Cap: 229.1m
- Published:
12 May 2021 -
Author:
Rachel Birkett, CFA -
Pages:
24
Vertu has released an impressive set of FY results, which are ahead of our previously upgraded forecasts. Trading momentum remains strong with pent-up demand still evident, and with healthy cash generation and a strong balance sheet we believe Vertu is well positioned. This note focuses on the scaled business (#9 in Europe) that has been built up from nothing 15 years ago, and we increase our near term intrinsic value from 62.9p to 75.6p per share implying a healthy risk/reward profile from curr ....