Compass: Liberum cuts target price
(CercleFinance.com) - While maintaining its "hold" rating on the Compass share, Liberum has cut its corresponding target price from 2000 pence to 1400 pence, in the wake of the group's 40.
9% reduction in its adjusted EBITDA forecast for 2020.
"Trading for the last two weeks of March is set to be materially impacted following the spread of COVID-19 and the measures introduced by governments and clients," the broker said.
"Compass expects half-year operating profits to be c£125m-225m below previous expectations," Liberum continues, which expects sales volumes to dive 50% in April before returning to more "normal" levels towards the year-end.
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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.
9% reduction in its adjusted EBITDA forecast for 2020.
"Trading for the last two weeks of March is set to be materially impacted following the spread of COVID-19 and the measures introduced by governments and clients," the broker said.
"Compass expects half-year operating profits to be c£125m-225m below previous expectations," Liberum continues, which expects sales volumes to dive 50% in April before returning to more "normal" levels towards the year-end.
Copyright (c) 2020 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.