Compass: Liberum raises target price

(CercleFinance.com) - Liberum maintains a 'Hold' recommendation on Compass shares, although has increasing its target price for them to 2010p (from 1990p).


The broker first notes that Compass ended the year on a high note, with preliminary results at the top end of the consensus range.

It adds that FY 22 organic growth of 37.5% was driven by both volume recovery and price increases, as well as a higher rate of net new business (+7.5% y-o-y).

Analysts have revised their operating profit forecasts by 5% and have increased their target price for the share to 2010p, adding that their forecasts reflect organic revenue growth for FY23E and margins of 6.9%.

Compass shares are currently up about 0.3%, indeed without a real direction, although are outperforming a weaker market by almost 0.5% as things stand.


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