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Compass: Jefferies confirms target price

(CercleFinance.com) - Compass has announced a capital increase, aiming to raise gross proceeds of 2 billion pounds, or around 11% of its market capitalisation, at a price of 1025 pence per share.


Following this announcement, Jefferies analysts have confirmed their buy rating, with a target price of 1340 pence.

"The equity issue derisks Compass's balance sheet and should sustain its persistent operational outperformance relative to peers," the broker says.

"13x FY19 PE and 7% FCF yield are attractive multiples for the best-in-class industry leader, particularly as the group should be larger at next peak driven by market share, increased outsourcing penetration and M&A," the analyst adds.


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