Despite trading on a FY16E PE rating of 10x, offering a dividend yield of 3.7%, deleveraging and growing PBT by 5% the shares are virtually unchanged over the last 12 months. Ahead of the prelims on May 24th we outline four catalysts for share price appreciation, deleveraging raises the potential for a special dividend, peer group valuation, reduced non-cash, charge on pension liabilities, and new management. We initiate with a buy recommendation and a price target of 80p, representing 20% up
27 Apr 2016
Four catalysts for share price appreciation
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Four catalysts for share price appreciation
Hogg Robinson Group (HRG:LON) | 0 0 0.0% | Mkt Cap: 383.3m
- Published:
27 Apr 2016 -
Author:
Andy Smith -
Pages:
9
Despite trading on a FY16E PE rating of 10x, offering a dividend yield of 3.7%, deleveraging and growing PBT by 5% the shares are virtually unchanged over the last 12 months. Ahead of the prelims on May 24th we outline four catalysts for share price appreciation, deleveraging raises the potential for a special dividend, peer group valuation, reduced non-cash, charge on pension liabilities, and new management. We initiate with a buy recommendation and a price target of 80p, representing 20% up