Vertu has delivered an impressive set of record H1 results, which showed strong volume outperformance and pricing discipline across all markets. We are raising our FY22 forecasts by 19% to reflect current management guidance and leave our FY23/24 forecasts unchanged for now. Our near term value per share increases to 86p implying a healthy risk reward profile from here.
13 Oct 2021
Vertu Motors PLC (VTU LN) - Inbuilt resilience and execution
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Vertu Motors PLC (VTU LN) - Inbuilt resilience and execution
Vertu Motors PLC (VTU:LON) | 64.8 -0.4 (-0.9%) | Mkt Cap: 218.8m
- Published:
13 Oct 2021 -
Author:
Rachel Birkett, CFA -
Pages:
21
Vertu has delivered an impressive set of record H1 results, which showed strong volume outperformance and pricing discipline across all markets. We are raising our FY22 forecasts by 19% to reflect current management guidance and leave our FY23/24 forecasts unchanged for now. Our near term value per share increases to 86p implying a healthy risk reward profile from here.