Rosenblatt have released an interim trading update ahead of H1 results, due on 25th September, with management expecting full year results in line with market expectation. We continue to believe the current valuation of 13.7x FY19E P/E, falling to 12.9x FY20E P/E, does not fully reflect the forecast growth and high margin quality of the business. We maintain our price target of 120p; c.20% above current levels. Buy.
01 Aug 2019
Interim trading update shows all on track
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Interim trading update shows all on track
RBG Holdings Plc (RBGP:LON) | 9.8 0.1 12.7% | Mkt Cap: 12.5m
- Published:
01 Aug 2019 -
Author:
James Bayliss -
Pages:
5
Rosenblatt have released an interim trading update ahead of H1 results, due on 25th September, with management expecting full year results in line with market expectation. We continue to believe the current valuation of 13.7x FY19E P/E, falling to 12.9x FY20E P/E, does not fully reflect the forecast growth and high margin quality of the business. We maintain our price target of 120p; c.20% above current levels. Buy.