We take this opportunity to update our forecasts for Knights following results for the YE to April, whilst also adjusting for the expected impact of IFRS 16; Operating Leases. Given the group’s acquisitive mission statement, we believe it reasonable to increase our target price to include the impact of a pro-forma acquisition, moving it from 280p to 330p. At 302p currently the shares have 9.3% upside to our TP, and we retain our Neutral recommendation.
27 Aug 2019
Updating forecasts and increasing target price
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Updating forecasts and increasing target price
Knights Group Holdings Plc (KGH:LON) | 123 4.9 3.3% | Mkt Cap: 105.8m
- Published:
27 Aug 2019 -
Author:
James Bayliss -
Pages:
7
We take this opportunity to update our forecasts for Knights following results for the YE to April, whilst also adjusting for the expected impact of IFRS 16; Operating Leases. Given the group’s acquisitive mission statement, we believe it reasonable to increase our target price to include the impact of a pro-forma acquisition, moving it from 280p to 330p. At 302p currently the shares have 9.3% upside to our TP, and we retain our Neutral recommendation.