Cast: Bryan Garnier remains a buyer; raises target price
(CercleFinance.com) - Bryan Garnier has reiterated its "buy" rating on the Cast stock, upping its corresponding fair value from 4.
1 euros to 4.7 euros, in the wake of the group increasing its medium-term estimates, the day after its capital increase.
The broker has increased its like-for-like sales growth assumptions from +11% to +12% and has upped its forecast for the group's adjusted operating margin from 10% to 11%, each of which raises the stock's fair value by 0.3 euro.
"The successful EUR10.7m capital increase announced yesterday, which is neutral to our valuation as the dilution is offset by the amount of cash raised, gives Cast the means to pursue growth and seize acquisition opportunities," the broker says.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
1 euros to 4.7 euros, in the wake of the group increasing its medium-term estimates, the day after its capital increase.
The broker has increased its like-for-like sales growth assumptions from +11% to +12% and has upped its forecast for the group's adjusted operating margin from 10% to 11%, each of which raises the stock's fair value by 0.3 euro.
"The successful EUR10.7m capital increase announced yesterday, which is neutral to our valuation as the dilution is offset by the amount of cash raised, gives Cast the means to pursue growth and seize acquisition opportunities," the broker says.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.